Notifiable Data Breaches | July to December 2023

Notifiable Data Breaches | July to December 2023 News
By Tyler W
February 27, 2024

Notifiable Data Breaches | July to December 2023

The latest Notifiable Data Breach report, has been released by the Office of the Australian Information Commissioner (OAIC), and we recommend you download and familiarise yourself with the report in it's entirety here.

We have provided a summary video to help understand the current threat landscape and have noted the following report 'highlights':

- Total reported breaches have increased 19% from the prior reporting period to 483 in total.

- Malicious attacks have decreased to 67%, from 70% bucking the recent trend where these were increasing.

- Human error has increased to 30%, also bucking the prior trend where this was indicating a downward movement.

- The total breaches reported for 2023 have surpassed 2022 and 2021.

- 64% of breaches were identified within 10 days and approximately 23% were identified after 30days.

- 71% of breaches involving human error were uncovered within 10 days.

- Social engineering attacks accounted for 17% of malicious attacks.

- Ransomware is still significant, accounting for 56 cases of the 211 malicious attack breaches.

- Stolen credentials also represent a significant risk, accounting for 25% of all data breaches.

- Legal, accounting and management services are out of the top 5 sectors.

There is some interesting trends developing as the landscape continues to evolve, and some simple cybsersecurity defences, as discussed in the video, can help protect you and the personal identifiable information you are custodian of.

If you have any questions, or need assistance in the management of your personal identifiable information you may hold, please just reach out to the team at [email protected].

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