Cyber security: Are Australian CEOs sleepwalking or a step ahead?

Cyber security: Are Australian CEOs sleepwalking?

Cyber attack is one of the biggest threats to businesses, however the latest findings from KPMG International (KPMGI) show many Chief Executive Officers (CEOs) admit a lack of preparedness against security breaches. KPMGI’s report, Cyber security: A failure of imagination by CEOs, reveals results from surveying over 1200 CEOs around the world, showing their true position when it comes to online safety.

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Cyber security: Are Australian CEOs sleepwalking or a step ahead?

The results are alarming. Only half of CEOs declared they are fully prepared for a future cyber security event, with Australian CEOs behind at 35 percent. Here we delve into the report to uncover how Australian CEOs are comparing to their international peers when it comes to cyber security, and look at what they can do to reduce risk. 

Key insights

  • Globally, only half of CEOs are fully prepared for a future cyber-security event, with Australia behind at 35 percent. 
  • 40 percent of Australian CEOs expect the Chief Information Officer (CIO) position will become more important, on par with the global average. 
  • 29 percent of CEOs surveyed said cyber security is having the biggest impact on their company, just ahead of 25 percent in Australia. 
  • 20 percent of CEOs surveyed indicated that information security is the risk they are most concerned about, with Australian CEOs at 29 percent.

What's keeping Australian CEOs awake at night?

CEOs globally are concerned with operational and strategic risk. In Australia that concern is focused predominantly in the cyber domain. 37% are concerned with the emerging technology risk while 29% are concerned with the information security risk (cyber).

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