CEO’s and Cyber Security: An Integral Mix

The pandemic has had a massive impact on the way we do business and maintain our social connections. Increasingly, we reply on the internet to work remotely, access services and information, and communicate day-to-day.

Unfortunately, this reliance on the net has led to a significant increase in malicious cyber-attacks. In fact, the Australian Cyber Security Centre (ACSC) received over 67,500 cybercrime reports during the 2020–21 financial year – an increase of nearly 13% from the previous financial year – with one report of a cyber-attack every eight minutes compared to one every 10 minutes in 2019-2020.1

According to a global report by Price WaterhouseCoopers, strong CEO involvement in cyber security measures can be extremely effective.2 Indeed, over and above the influence of the Chief Information Security Officer (CISCO), the survey found that CEOs with the best cybersecurity outcomes over the past two years were 14x more likely to have provided significant and broad support to cybersecurity.

When you think about it, it makes sense that the CEO should be involved in cybersecurity strategies and implementation. After all, although they don’t necessarily have full control over their companies’ cybersecurity policies and practices, they’re totally accountable when things go wrong and if there’s a data breach. The responsibility lies with them.

To create a security mindset right across an organisation, CEOs need to frame cybersecurity as being important to the business’ growth and to gaining customers’ trust. They need to be across terminology, prepared to listen to the expert advice of their IT/cyber security team, and equally prepared to invest in software that will enhance the security of the organisation, its devices and employees. CEOs should also be involved in cyber security policy making and should take the lead when it comes to communicating these policies to all stakeholders. They need to be knowledgeable of problems and weaknesses in the organisation and proactively work to rectify them; and they need to demonstrate trust in and support for their CISO.


We’re Here to support you

Yes, cyber security is an increasing threat to every organisation across Australia and unfortunately, it’s requiring a significant investment in time, finances and resources.

At the Ayers Group, we can offset the time you need to put into managing your organisation’s cyber security by supporting you with tools and services to manage your personnel administration and contractors. Talk to an expert at the Ayers Group today.