New Zealand struggles with cyber resilience amid rising threats
New Zealand struggles with cyber resilience amid rising threats | Insurance Business New Zealand
Cyber
New Zealand struggles with cyber resilience amid rising threats
Report outlines barriers to effective cyber resilience
Cyber
By
Roxanne Libatique
Data protection and data management software company Commvault’s recent “ANZ State of Data Readiness report 2024” has shed light on significant gaps in cyber recovery efforts among Australian and New Zealand organisations.
As cyberattacks become more frequent, the report uncovered a disconnect between business leaders’ recovery expectations and the actual recovery times experienced by IT professionals.
Organisations’ recovery time following cyberattack
The survey showed that 75% of business leaders expect their operations to resume within five days after a cyberattack. However, IT professionals reported that actual recovery times can range from five to eight weeks, a disparity that threatens business continuity.
“The findings emphasise the critical gap between the expectation of rapid recovery and the harsh reality of extended downtimes. Organisations must prioritise strengthening their cyber resilience to safeguard against the increasing frequency and sophistication of cyber threats,” said Martin Creighan, vice president for Asia Pacific at Commvault.
Barriers to effective cyber resilience
One of the main obstacles to effective cyber resilience is the maturity level of existing strategies.
According to the report, 50% of ANZ organisations are at a “very immature” level regarding cyber resiliency capabilities. This indicates a need for stronger incident response plans and increased investment in advanced technologies like AI and data immutability.
How to improve cyber resilience
The report pointed out that rigorous testing of incident response plans is crucial. However, many organisations face challenges such as high costs, insufficient planning, and a lack of skilled cybersecurity professionals.
It added that innovative solutions like cleanrooms, which enable cost-effective and regular testing of cyber recovery strategies, could help overcome these barriers.
Another survey highlighted a significant rise in privacy concerns among New Zealanders, with some calling for enhanced control over their personal information. Specifically, 80% of the respondents call for greater choice and control over data collection and usage, 83% want notifications when their data is used in automated decisions, and 82% seek the ability to have their data deleted by businesses.
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