Huge cyber fines to be ‘Ford Pinto’ moment Australian business needs

A rash of high-profile data breaches and the threat of business-crushing fines have brought about a step change in the amount of time boards and business leaders spend discussing cybersecurity, but cyber chiefs still say they aren’t getting enough funding.

The Optus and Medibank data breaches remain the highest-profile cyber incidents in corporate Australia, but a steady stream of organisations have suffered the same ignominy of admitting to their customers that they have failed to protect their data in the 18 months since.