Speech by Chris Chapman, ACMA Chair
Australian Communications and Media Authority
Launch of the Baker & McKenzie Cyber Security Counter-Offensive Guide
Sydney, Tuesday 24 November 2015
The ACMA extols leadership on cyber security issues
Thank you very much for inviting me here today to launch the Baker & McKenzie Cyber Security Counter—Offensive Guide (for the Asia Pacific Region): a guide that is very timely, and for a Region in which Australia continues to play a leading role. In doing so, I’ve been invited to talk a little about the cyber security problems facing Australian businesses today, and the ACMA’s contribution to the security of home and business users. I’ll make some observations about cyber security trends that the ACMA is identifying, particularly in the context of how they may be relevant to your own circumstances. I’ll also describe the ACMA’s Australian Internet Security Initiative (or AISI), and I’ll talk about contributions we make in related areas, particularly in publishing independent and unique research about cyber security issues.
This ACMA work is occurring in an environment where the risk of cyber security incidents affecting Australian business is becoming more evident than ever, and where the cost of a cyber security incident—especially one that is not managed well—can be exorbitant. At a recent cyber security summit in August, Deloittes suggested that the average cost of a data breach to an Australian business is more than $2.5 million per year. In May, the respected Ponemon Institute in the US reported that the total average cost paid for data breaches by Australian companies it surveyed was $2.82 million. Precise figures here are not the point – what is to the point is the reality of data breaches and their significant direct and indirect costs.
Download the speech in full below.
Speech by Chris Chapman, ACMA Chair, launch of the Baker & McKenzie Cyber Security Counter-Offensive