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According to the Egress Insider Data Breach Survey 2021, it found that 94% of organisations experienced inside data breaches within the last year. 84% of the IT leaders surveyed advised human error was the top cause of the most serious incidents. Those surveyed also indicated that despite human error causing the most incidents less than one-fifth advised this to be their biggest concern.

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Global research firm, Statista, projects IoT spending will surpass $1 trillion by 2023. But before you get lost in the cloud of opportunity, it’s critical to stay grounded. The average cost of a data breach in 2020 was $3.86 million globally. That figure increased 9.8 per cent year-on-year in Australia, priced at $3.35 million, a sobering fact to consider. Add to this, malicious attack breaches were more financially heavy, costing organisations across the globe on average $3.74 million instead of system glitches, at $2.90 million, and human error, at $2.82 million.