Company directors could be held personally responsible for cyber attacks under new standards being discussed with industry as government research shows cyber crime is costing the Australian economy about $3.5 billion a year.
The extra responsibilities for directors of large Australian companies, similar to those they already have for workplace health and safety, will be canvassed in a government discussion paper on cyber-security reforms. Under the voluntary approach, the new standards could be written into the ASX’s corporate governance rules and practices, which would at least force companies that did not adopt the requirements to explain why to shareholders.
The Australian Institute of Criminology will release a report on Tuesday putting the total economic cost of cyber crime at $3.5 billion a year, including $1.9 billion lost by individual victims.with the consequences of cyber attacks and $1.4 billion on prevention, and recovered just $389 million.
Gallo_Ways Cheap enough. Daily back up to a separate server. Not rocket science.
Gallo_Ways True ☑️