CyberCX chief strategy officer Alastair MacGibbon warns Australia is ‘a decade behind’ in cyber security race

A former top cyber advisor to the Prime Minister has released a handbook on how to protect an organisation from ransomware and extortion as internet crime becomes one of the biggest threats to Australian businesses. CyberCX chief strategy officer Alastair MacGibbon told The West Australian the nation was a decade behind where it should be with cyber security and called on the Federal Government, police and tech companies to do more to safeguard businesses and individuals on the web. “From a business point of view, the biggest threat is cybercriminals who are locking up systems and ransomware, which is one of the fastest-growing crimes in the past couple of years,” Mr MacGibbon said. “A slightly newer shift, which we think will overtake the locking of computers, is extorting people out of cash to not release sensitive data. It’s just despicable what these criminal groups do.” Extortion is a crime where a victim’s computer systems, networks or devices are damaged or information is stolen until they are threatened to make a payment. While ransomware is when a type of malicious software is used to make data or systems unusable until the victim pays a ransom. Mr MacGibbon released a three-part guide on ransomware and cyber extortion this week, which details the best security measures to take to protect an organisation, as well as providing tips on how to engage with an attacker. “Our biggest ransom was $55 million dollars and the smaller one we saw was $7000,” he said. “The Government is treating the symptom and not the cause. Are we a decade too late? Yes, but it’s never too late to start.” The cyber security leader said cybercrime was increasing in Australia — a rise of nearly 13 per cent in the past financial year — and those who were targetted was getting broader. “We are seeing the move to smaller targets who are easier to attack,” Mr MacGibbon said. “It could be the fish and chip shop on the corner or it could be the local newsagent. They (cybercriminals) are just getting any cash they can.” But it is not just Australian businesses being threatened to pay millions of dollars to cybercriminals. Last month, the Australian Cyber Security Centre released its annual cyber threat report, revealing Australians had self-reported $33 billion worth of losses from cybercrimes in the past financial year. “That’s just a staggering figure. Name an offline crime of any type that could cause that much harm,” Mr MacGibbon said. “You can’t but yet, what’s being done about it? Where are the police when it comes to cybercrime against citizens? You don’t meet a person anywhere now who hasn’t had a crook brush up against them in that week. “Do you think the Premier (Mark McGowan) would allow gangs of people roaming the streets to harm citizens but we allow it to occur on the online space every day. It’s just wrong.”

CyberCX chief strategy officer Alastair MacGibbon warns Australia is ‘a decade behind’ in cyber security race

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