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Friday, 26 January 2024 11:21

International Data Privacy Day – are we really ready for new cyberthreats?

By Chris Fisher, regional director ANZ, Vectra AI

GUEST OPINION: Throughout last year, many Australian and New Zealand businesses made headlines for all the wrong reasons, as even large corporations investing ample funds into security measures were forced to announce breaches and customer data leaks.

In September, for instance, Pizza Hut’s Australian operations were the victim of a cyber-attack that saw customer data, including delivery addresses and order details of as many as 193,000 customers, being claimed by an “unauthorised third party.” On top of this, for registered accounts, the hack claimed credit card numbers and encrypted passwords.

As we enter a new year, the International Data Privacy Day, taking place on January 28th, is a clear opportunity to stop, take stock of security measures, and put in place both prevention and detection systems and processes. With artificial intelligence (AI) dominating headlines, this day is a chance to consider how AI can be baked into security strategies to achieve greater attack signal intelligence – especially as customers and consumers have begun to share more data than ever before with organisations.

Even as these customers take action to keep their personal information secure and private, exposure incidents still occur. As we strive to make the world a safer and fairer place, companies have a responsibility to their customers, partners, and end users to implement the right practices that will ensure that their privacy and data are protected.

As reported by Gartner in December of last year, 87% of CIOs in ANZ will increase investments in cybersecurity this year. This is up from 62% in 2023 and compares to 90% of CIOs globally.

Cybersecurity leaders and decision makers are tasked with ensuring these investments will not only deflect attacks, but stop breaches in their tracks, ensuring data and operations remain secure, and the brand is known for what they do best, not an unfortunate turn of events. This is where AI-driven attack signal intelligence for Extended Detection and Response (XDR) solutions will shine, bringing greater efficiency and effectiveness to detection, prioritisation, investigation and response.

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