The lack of skilled cybersecurity talent is a bigger challenge for businesses in Australia than abroad, according to new research that also found that high stress levels and inadequate assistive technologies are causing many workers to go berserk after a data breach.
A whopping 45% of Australian CISOs surveyed for Trellix’s recently released global study, The mind of the CISOsaid they had experienced “high” turnover of their security teams following a major security incident – slightly higher than the global figure of 43 percent.
In a workforce that has long struggled with the enormous pressure After a ransomware attack or data breach, stressed CISOs become even more stressed as they deal with potentially crippling cyber incidents without the staff they need.
There are signs that continued attrition is taking an even greater toll on Australian companies, with 40% of Australian CISOs saying a lack of skilled talent was a primary challenge – well above the global figure of 34%.
This suggests that Australia is on hold gap in cybersecurity skills — which will require an additional 30,000 cybersecurity personnel by 2026 — has made it more difficult to replace lost workers here than in many other countries.
“CISOs work in an extremely pressured environment that has virtually no free time,” said Trellix ANZ Director Luke Power, “which often leads to a feeling of being unheard, invisible and unsupported.”
CISOs interviewed for the study likened the job to being a soccer goalkeeper and talked about the “absolute hell” and “pit in the stomach” when even a single cyberattack gets through the company’s cybersecurity defenses.
“You are a hero and held in high esteem and everything is great until it’s not anymore,” said the CISO of a British financial services company. “Your head is on the chopping block when there’s a problem.”
Stay cool while things heat up
Even as CISOs grapple with losing staff to burnout and stress, there’s a new one Surfshark Analysis found that last year Australia had the fourth highest ‘cybercrime density’ in the world – with 106 cybercrime victims per 1 million internet users.
That was 5% more than the previous year and nearly twice the size of South Africa in fifth and Greece in sixth, although Australia fell well behind the pace of the top-ranked UK (4371) and second in the US (1612). ).
The wide range of attack densities suggests that “hackers target some countries more than others,” notes Surfshark’s analysis, while pointing out that cybercrime currently costs the world about $1.79 million ($US1.18 million) per year. hours costs.
Despite the high stakes of today’s cybercrime, many CISOs surveyed for the Trellix report admitted that they use cybersecurity tools that are too fragmented and numerous to provide an effective defense.
And while organizations allocate an average of 34% of their IT budget to cybersecurity, that investment has primarily focused on network detection and response — which receives an average of $10 million ($US6.65 million) a year as companies forego strategic investments to maintain their network. the retarded status quo.
Inadequate cybersecurity tools only exacerbate the problems caused by rapidly leaving employees, Trellix’s Power warned, noting that “Australia has emerged as a highly vulnerable target for cybercriminals, and so ill-equipped CISOs and their teams to deal with cyber-attacks to face, a recipe for further large-scale breaches.”
“Immediate action must be taken in every sector in the fight against cybercriminals. By revolutionizing security teams’ strategies and breaking down the barriers that prevent them from protecting critical data, we can move towards a more secure future.”