Boston, Massachusetts: Cyberattackers are targeting the Asia-Pacific region to expand their crimes, prompting calls for Australia to do more to safeguard critical infrastructure and businesses from costly extortion.
IBM security chiefs have warned that hackers, who have traditionally focused on North America, have pivoted towards Asia over the past two years, resulting in the average cost of data breaches soaring to record highs as they target supply chains, limit access to key services and increase the cost of goods.
Optus uses its store front in George Street Sydney to apologise to customers following a cyberattack and data breach last year.Credit:Nikki Short
According to IBM’s latest figures, the US had the highest average total cost of a data breach last year, with each breach costing a record $US9.4 million ($13.3 million). The average cost of a data breach in Australia reached to $US2.9 million over the same period, making it the 11th most costly country in the world for a cyberattack.
According to the tech giant’s data, last year Asia Pacific became the most targeted region for the first time since records have been kept, with Australia, Japan and India the hardest hit.
The rise in sophisticated cyberattacks across the region have prompted the company to call for governments to do more to protect businesses and consumers.
The IBM X-Force Command Centre in Boston.Credit:IBM
“Government needs to ensure that critical infrastructure supply chains build resiliency to respond and recover in case of a cyberattack,” said Chris Hockings, the chief technology officer for IBM Security’s Asia Pacific region.
“They must also define strong, implementable, cross-industry cybersecurity standards... and be an active participant in meeting these standards themselves.”
The warning co ..
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