Cyber Insurance News February 2019

By John Catibog
Last Update – Feb 12, 2019
Reading – 3 mins

In the February edition of Cyber Insurance related news we look at:

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Any comments and opinions on this blog is NOT ADVICE.  They are the personal opinions of the author only.  They may not be shared by any company or organisations associated with the author or INDAGARD.

Australian Parliament targeted by cyber-hack attempt

The Australian Parliament was hit by a cyber-attack where an unknown hacker tried to gain access to the system, following which the passwords on the parliamentary computing network were reset.

WPML breach - importance of cyber insurance

There is no proof of any of the data being accessed or stolen and it doesn’t seem like any of the government department has been targeted. Also, there aren’t any proofs suggesting that the attack was done to influence or interrupt parliament or to control electoral or political processes.

The government had immediately identified the breach at its earlier stage and acted quickly to take the necessary actions to prevent any data leakage. The parliament network is mainly used by the MPs and the staffs to store their emails along with the other data. All the passwords were reset as a precautionary measure.

The opposition Labor Party leader Bill Shorten commented that the attack on parliament must be considered as a wakeup call, and that what happened now must be a part of something bigger. A lot of data is being provided to several companies and it is important to take necessary steps to protect the data.

How secure is your business when it likely does not invest as many resources into cybersecurity as a large organisation like the Australian Government?

In the recent years, Australian government systems has been targeted frequently just like any other country. Since 2012, the Department of Parliamentary Services that supports various functions of the Australian Parliament has taken considerable progress in increasing the cyber defenses for the Australian Parliament House computer networks.

According to the local cyber experts, a foreign government is presumed to be behind the attack, possibly China. This might be due to the upcoming elections or other political processes in the country by China. In order to try such an attack, it requires huge resources, so it is supposed to be a state actor.

Since 2017, the relations with China have collapsed when Canberra accused Beijing of interfering in its domestic affairs and Australia had been cautious of China after that. There were reports that Australia cancelled the visa of a famous Chinese businessman and it was just few months back that the Chinese telecom company Huawei Technologies were banned from Australian 5G broadband network.

Currently further information regarding the attack is not available. However, investigation process is going on with the relevant security agencies and at present their main concern is to secure the network and protect the users. Any updates will be provided to the members, senators and media as soon as it is available.

Sources: The Guardian, CNN