Cyberspace in the 21st Century demands that organisations know where their information is, how secure it is and what measures are necessary, or sufficient, for effective data protection? The Senetas Leadership team comes together to share news and views related to information security and data protection in the face of new and emerging cyber threats. They comment on the latest trends and business strategies that minimise the risk to personal and corporate information.
Your comments are welcome.
By Stuart Bell
For the past decade Australia has enjoyed a sustained period of economic prosperity off the back of its very traditional roots in mining and agriculture coupled with a unique financial services structure.
Many people continue to focus on the leverage provided by the growth in our Asia based trading partners. Commentators trumpet how fortuitous the move away from reliance on Europe and America was. We may just be missing some important future economic activity that is growing in the traditional economic partners.
This could threaten our continued prosperity! There are clear examples of how leadership can create structure and a clear way forward and this is explained in "What should be done?”
What is the cause of this?
Many traditional economies have endured a decade of economic pain. This has been caused by a number of factors but one that is undeniable is the reshaping of the economy due to the internet. Coupled with the removal of commercial boundaries that used to be physical and perceived as immovable, growth in traditional economies is gathering pace at our expense.
The traditional economic powerhouses of Europe and America have spent the past three years looking at how they transition to the economy of the future. In that time our focus continues to be on the hard asset economy – mining and logistics, moving materials to value adding trading partners in Asia.
Debate in Australia is mired in the merits of NBN public debate about the strategy to survive and thrive in the emerging the global economy. No perspective exists on the economic risk posed by the retooling in the new business platform – Cyberspace.
Meanwhile, the Australian public continues to drive retail activity towards the new economy. A clear example that “ordinary” Australians are embracing the Cyberspace economy but the government is failing in its duty to lead in the areas of governance and security.
Why has this happened?
Perhaps the debate about investment in NBN was the incorrect focus. Too much focus on how, not why and what the new platform will enable in terms of wealth creation.
Interestingly this assertion is supported by international data that shows:
McKinsey Global Institute, Internet Matters, 2011
While Australia continues to fixate on creating the backbone, the mature countries are already well advanced with not only reforming infrastructure but also ensuring the environment is secure. This results in economic growth that is protected appropriately and not just a fishing ground for the global criminals that the internet has also spawned at breathtaking speed.
What should be done?
The UK has an excellent vision published in November 2011 – “The UK Cyber Security Strategy: Protecting and promoting the UK in a digital world.”
In summary, the strategy outlines:
1. Vision for UK 2015 Cyber space adoption
2. How UK will be one of the most secure
3. Be resilient to cyber attacks
4. Support open society
5. Outline skills needed
Businesses and private individuals should be demanding the government create a business backbone that facilitates us holding our ground with those of the leaders in the new economy, such as UK.
Serious consideration to securing all data using encryption should be mandated as part of the total solution. If we miss this opportunity to “build in” security sufficient evidence is available to show it will NEVER be retrofitted as it is too costly once a complex web of networks exist, it is also too difficult to gain agreement as to how.
Hot tip – Engineer the solution in – it’s faster, cheaper and safer.
Remember!
Unless actively promoted by the government security will be the new safety challenge in a decade – how hard is it to reduce the road toll? Well the best start was to publish it!
Business losses through fraud and theft via internet or commercially insecure businesses are not known, they are built in to the cost of doing business. Would we accept that with the road toll and injury? If not, why should we accept the cost of security from here forward in the new economy?
Speak up. Demand your representatives make all business leaders accountable for telling you what is going on.
Do something about securing the future to preserve growth and strengthening our society.
Stuart
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