Australia has a new cyber security strategy. Whilst news headlines are all about how Australia is ready to launch cyber counter strikes against foreign foes that threaten it and shut down hacker ‘safe havens’, drop down to Paragraph 13 of the summary on the Prime Minister’s website and you’ll find the three most compelling issues for cyber security that no business can ignore.

The Turnbull government’s $230 million national cyber security program has five key pillars: strengthening cyber defences, education, partnerships, research and development, and global awareness. What really matters to business though is:

1. Cyber attacks are now an everyday event.

It’s not the stuff of science fiction. The Australian Crime Commission says cyber crime cost Australia $1bln in cash in 2013/14 and $17bln in interruption to business. That number is surely much higher today. Everyone can be a target, every day.

2. The number of attacks is increasing and come from many sources that are also becoming more sophisticated. Finding out where attacks come from is hard and the response costly.

Defending the digital perimeter is hard when business uses the cloud and mobile which means they no longer have a defined digital perimeter that can be protected by a firewall. Cyber Security strategy needs to focus on prevention, detection, response, education, governance and continuous improvement in equal measure. But it’s not just for the big end of town.

Cyber security is everyone’s business now. That’s because:

3. Cyber security connects people, creates new markets for business and fosters the innovation that will grow Australia’s economy and create jobs. In particular, strong cyber security will give Australian businesses a competitive advantage in an increasingly connected market.

If your partners, customers and suppliers don’t trust you to do digital business with securely, they will perceive you as a weak link and a potential threat vector. And that means you won’t be in business very long That’s why cyber security matters to business – large and small.

At Cyber Research we help you implement practical strategies and deliver services that quickly build a strong cyber security posture in your organization. We accelerate your cyber security enabling you to work, transact, partner and compete safely in today’s increasingly digital world. Australia’s Cyber Security Strategy is a great start – now it’s up to business and organisations to make it part of their DNA.

The Cyber strategy can be downloaded from here: https://cybersecuritystrategy.dpmc.gov.au/assets/img/PMC-Cyber-Strategy.pdf