Australiancorporations growing concerned over escalating use of deepfake technology
In a recent survey conducted by ISMS.online, 506 information security leaders across 10 sectors in Australia shared insights about the current state of cybersecurity in their organisations. The findings reveal a growing concern about the vulnerabilities associated with third-party suppliers and the increasing use of sophisticated deepfake technology by threat actors.
Michelle McCarthy, ISMS.online's Asia Pacific Head, highlighted the need for businesses to ensure a strong information security posture, particularly in light of the vulnerabilities associated with third-party suppliers. This sentiment is echoed by the survey results, with 66% of businesses planning to increase their spending on securing supply chain and third-party vendor connections in the coming 12 months.
The rapid evolution of AI and deepfake technologies is another concern for businesses. A quarter of Australian businesses have already experienced a deepfake information security incident within the last 12 months. These incidents include business email compromise style attacks facilitated by sophisticated deepfake technology.
In response to these threats, 69% of businesses expect to increase their spending on AI and ML security applications. This investment is expected to extend to overall information security spending, with 79% of the surveyed businesses anticipating an increase.
The Australian Government is also taking steps to position the country as a global leader in cybersecurity. The Australian Cybersecurity Action Strategy aims to enhance the nation's cybersecurity capabilities and resilience.
Training and awareness are critical focus points for businesses, with 46% having put greater emphasis on employee education and awareness in the last 12 months. This is particularly important as over a third of employees use personal devices without proper security measures, leaving businesses more vulnerable to targeted cyber attacks like deepfakes.
However, the survey did not provide specific public details about Australian companies that experienced deep misinformation cybersecurity incidents and their exact planned spending increases on securing supply chain and third-party connections next year.
In an effort to demonstrate their ethical and compliant approach to AI, organisations can look to standards like ISO 42001, which encompasses AI use. Adhering to such standards can help businesses build trust with customers, regulatory bodies, and partners.
In conclusion, the survey results indicate a growing awareness among Australian businesses about the need for robust information security measures, particularly in the face of rapidly evolving threats. The majority of businesses are planning further financial investment into their information security and supplier management, with a focus on training, awareness, and adherence to global standards.
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