{"id":10127,"date":"2024-07-11T04:54:43","date_gmt":"2024-07-11T04:54:43","guid":{"rendered":"https:\/\/dev.chubbfs.com\/au-en\/?p=10127"},"modified":"2024-07-11T04:54:43","modified_gmt":"2024-07-11T04:54:43","slug":"security-a-risk","status":"publish","type":"post","link":"https:\/\/dev.chubbfs.com\/au-en\/security-a-risk\/","title":{"rendered":"Is Your Security A Security Risk?"},"content":{"rendered":"
As the world becomes hyperconnected, the line is blurring for businesses between the physical security of assets and the cyber security of data, elevating the urgency for businesses to check the cybersecurity credentials of their third-party security partners.\u00a0 <\/strong><\/p>\n Cybersecurity has become a top priority for businesses everywhere in response to the explosion of cybercrime by growing ecosystems of illicit organisations dedicated to engineering new tactics to steal data and dollars.<\/p>\n \u201cIt\u2019s not a new risk, but there\u2019s no doubt the threat of cyberattack is significantly increasing,\u201d says Indra Saseendran, general manager of digital operations and data security at Chubb Fire & Security Australia, a leading provider of security surveillance, monitoring and fire protection systems.<\/p>\n He says cyberattacks have more than doubled globally since the pandemic according<\/a> to statistics from the International Monetary Fund, and they\u2019re costing businesses more every year from a combination of stolen funds, fines for data breaches and reputational damage.<\/p>\n Australia is certainly not immune, with a cyber incident report made by businesses on average every six minutes to law enforcers last year, according<\/a> to the government\u2019s Australian Signals Directorate 2022-23 Cyber Threat Report.<\/p>\n Each incident cost medium-sized businesses on average<\/a> almost $100,000 last year, up 14 percent from the previous year. They also led to the private data of millions of Australians<\/a> being leaked to the dark web after being stolen via malicious means including ransomware, hacking and malware.<\/p>\n Mr Saseendran says as businesses entrust more of their processes to third party vendors whose services are integrated into their technology environment, it\u2019s vital to review all partners\u2019 cybersecurity credentials, since every connection channel increases the \u2018attack surface\u2019 for malicious cyber actors.<\/p>\n \u201cOutsourcing processes, such as your security and fire safety, provides great benefits, but you\u2019re only as strong as your weakest link,\u201d he says. \u201cIt\u2019s vital to ensure all third parties are managing information security, data security and cyber security well, or your business may be exposed to operational, financial and reputational risk.\u201d<\/p>\n \u201cThe criminals will keep evolving their tactics, so it\u2019s vital that you are continually evolving your defences, and that includes the defences of all your connected business partners,\u201d he says.<\/p>\n Recognising these risks, Mr Saseendran says Chubb Fire & Security Australia has invested heavily to meet the highest information and data security benchmarks both in Australia and globally, including ISO 27001.<\/p>\n \u201cAt Chubb, we take our commitment to protecting our customers\u2019 data incredibly seriously,\u201d he says, noting that Chubb, which has operated in Australia for almost 130 years, is providing an ever-growing suite of remote, connected services that\u2019s changing how businesses manage their fire protection and security.<\/p>\n \u201cMeeting ISO 27001 standards demonstrates Chubb Fire & Security Australia has a world-class level of security across threat monitoring, breach mitigation and sensitive data protection. It also means we are committed to continually improving our data security management, all of which means our customers can have confidence that their information assets will be in safe hands when partnering with us.\u201d<\/p><\/blockquote>\n Mr Saseendran adds that Chubb\u2019s Monitoring Centres \u2013 from where it runs its alarm monitoring and response services \u2013 are the only such monitoring centres in Australia to be certified as a \u2018Grade A1, Redundant Level R1A\u2019 by the Australian Security Industry Association Limited, the highest industry rating.<\/p>\n \u201cAchieving this certification means Chubb is leading the Australian security industry,\u201d he says.<\/p>\n \u201cIt requires our monitoring centres to have heightened security across both cyber and physical aspects of the facilities, and is a testament to our robust infrastructure which puts the security of our customers first.\u201d<\/p>\nHe says the easiest way to have confidence that a prospective partner has appropriate security controls is to specify they must be compliant with a global standard such as the International Organization for Standardization\u2019s ISO 27001,<\/a> the leading information security management standard which requires businesses to take a systematic, best practice approach to managing and protecting data.<\/p>\n