Cybersecurity: The top risk silently seeking deserved acknowledgment.

January 1, 2024
1 min read

In a survey of Australian CEOs, cybersecurity was identified as the number one risk that is not receiving enough attention. Despite increasing instances of high-profile breaches, many executives feel that there is still a lack of understanding and appreciation for the potential consequences of cyberattacks. CEO Paul McKenzie of pharmaceutical company CSL warns that the impact of an attack on a company within their supply chain can be multiplied, presenting a significant risk. CEOs also expressed concerns about the efficacy of fines and penalties in deterring attacks and getting companies to take cybersecurity seriously. Many feel that co-investment in security measures and a ban on ransom payments to cyber criminals would help to combat the problem. In addition to cybersecurity, other risks and trends identified by CEOs included healthcare, productivity, and housing. Healthcare was highlighted as a significant issue, particularly due to the country’s ageing population and the subsequent increase in health expenditure. Executives called for healthcare reform to address the growing debt burden and to encourage individuals to take more responsibility for their own healthcare.

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