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October is here, and with it comes Cyber Security Month—a critical time for IT professionals and businesses of all sizes to focus on the importance of cyber security. This year, we’re urging all organisations to get registered to ISO/IEC 27001:2022 Information Security Management systems. For organisations who are currently certified to 2013 the deadline of 31st October 2025 to transition to version 2022 is looming. With the completely new structure of Annexure A controls*, 11 new controls and some additional requirements in clauses, time is shorter than you may think; and with cyber threats evolving faster than ever, staying updated and compliant is paramount.
Why ISO/IEC 27001 Certification Matters
ISO/IEC 27001:2022 is the international standard for an information security management system. Achieving this certification not only demonstrates your commitment to protecting sensitive data but also provides a competitive edge in today’s digital marketplace. The latest ISO/IEC 27001:2022 version includes updated guidelines and controls that address modern threats, to ensure your organisation’s defences are robust and current.
Cyber Security Breach Stats for 2024
Understanding the threat landscape is crucial for improving your defences. Here are some alarming statistics that highlight the urgency of robust cyber security measures:
- Increase in Attacks: There has been a 23% increase in reports of cyber attacks¹ compared to 2023.
- Recovery Time: Australian companies took an average of 266 days to identify and contain cyber incidents², slightly longer than the global average of 258 days.
- Average Cost: The average cost of a data breach in Australia has reached a record $4.26 million in 2024².
- Insider Attacks Prove Most Costly: Malicious insider attacks had an average cost of $4.91 million per incident².
- Phishing and stolen credentials: The most common types of attack, accounted for 22 per cent and 17 per cent of breaches respectively³.
These numbers underscore the importance of proactive measures and continuous improvement in your cyber security strategy.
AI-Driven Cyber Attacks
As technology advances, cyber criminals have increasingly harnessed the power of artificial intelligence (AI) to execute sophisticated cyber attacks. AI-driven tools have enhanced the capability of attackers to automate the detection and exploitation of system vulnerabilities, making attacks faster and harder to identify. Machine learning algorithms can be used to gather data and behavioural patterns, allowing attackers to launch more personalised and deceptive phishing scams. AI also empowers the development of smarter malware that can adapt to security measures over time. By leveraging AI, cyber criminals can conduct large-scale operations with minimal human intervention, amplifying the potential impact and frequency of attacks. Consequently, it’s vital for organisations to implement advanced, AI-based security solutions to effectively counter these evolving threats and protect sensitive information.
By following these guidelines and remaining vigilant, you can mitigate threats to your business from the ever-growing landscape of cyber threats. Stay informed, stay secure, and make cyber security a priority this October and beyond.
Top Types of Cyber Security Breaches
- Phishing Attacks Phishing attacks trick individuals into revealing sensitive information by pretending to be a trustworthy entity. These attacks are becoming increasingly sophisticated, making them harder to detect.
- Ransomware Ransomware encrypts your data, with attackers demanding a ransom to restore access. This type of breach has seen significant growth due to its lucrative nature for cybercriminals.
- Insider Threats Not all threats come from outside. Insider threats—whether malicious or accidental—can lead to significant data breaches. Employees with access to sensitive information can inadvertently or intentionally cause harm.
- Distributed Denial of Service (DDoS) DDoS attacks flood your systems with traffic, causing service outages and operational disruptions. These attacks can be devastating, especially for businesses that rely heavily on their online presence.
- SQL Injection SQL injection attacks exploit vulnerabilities in your database management system, allowing attackers to view, modify, or delete data. Ensuring your databases are secure is essential in preventing these breaches.
Strengthen Your Defences
With cyber threats becoming more sophisticated, it’s imperative to stay ahead. Here are some steps to bolster your cybersecurity:
- Update Regularly: Ensure all software and systems are up to date with the latest security patches.
- Employee Training: Educate employees about phishing scams, other social engineering techniques and the importance of strong passwords. Make the training mandatory.
- Regular Audits & Compliance Monitoring: Conduct regular security audits to identify and address vulnerabilities, to monitor and ensure the compliance with ISO 27001:2022 and regulatory requirements.
- Threat Intelligence: Adopt all possible measures to learn about the information security threats including the monitoring of possibility of publishing of organisational data on dark web.
- Incident Response Plan: Develop and maintain a robust incident response plan to mitigate the impact of breaches.
Cyber Security Month is the perfect time to be reminded to reassess and enhance your cybersecurity measures. By getting certified for ISO 27001:2022 and staying updated with the latest version, you’re taking a significant step towards mitigating risk to your valuable data.
Don’t wait for a breach to take action
Reach out and book a call with one of our experts today to ensure your organisation is certified against the threats of tomorrow. Let’s build a safer digital future together.
If you need a consultant to help you build the process to ISO 27001:2022 management system check out our Consultant MarketPlace.
* Annexure A is an outline of all 93 ISO 27001:2022 controls. The controls cover technologies, policies and processes related to information security management.