Why Our Cybersecurity Defences Are Crumbling

Crisis Management | Cyber Resilience | Leadership

Posted: Friday, Jan 24

KBI.Media
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Why Our Cybersecurity Defences Are Crumbling

Karissa Breen, more commonly known as KB, is crowned a LinkedIn ‘Top Voice in Technology’, and widely recognised across the global cybersecurity industry. A serial entrepreneur, she is the co-founder of the TMFE Group, a portfolio of cybersecurity-focused businesses spanning an industry-leading media platform, a specialist marketing agency, a content production studio, and the executive headhunting firm, MercSec. Now based in the United States, KB oversees US editorial operations and leads the expansion of the group’s media footprint across North America, while maintaining a strong presence in Australia, and the broader global market. She is the former Producer and Host of the streaming show 2Fa.tv, and currently sits at the helm of journalism for the group’s flagship arm, KBI.Media, the independent cybersecurity media company. As a cybersecurity investigative journalist, KB hosts her globally-renowned podcast, KBKast, where she interviews leading cybersecurity practitioners, CISOs, government officials including heads-of-state, and industry pioneers from around the world. The podcast has been downloaded in over 65 countries with more than 400,000 global downloads, influencing billions of dollars in cybersecurity budgets. KB is known for asking the hard questions and extracting real, commercially relevant insights. Her approach provides an uncoloured, strategic lens on the evolving cybersecurity landscape, demystifying complex security issues and translating them into practical intelligence for executives navigating risk, regulation, and rapid technological change.

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Why Our Cybersecurity Defences Are Crumbling

From Karissa Breen

According to Michael Loewy, Co-Founder of Tide and a veteran in the field of cybersecurity, the reality is that our cybersecurity defences are crumbling.

"The industry is broken," he declares.

What's broken about it?

"Just open the news," he urges, pointing to the incessant barrage of headlines detailing mass data breaches and compromised infrastructures.

With advances in technology like Artificial Intelligence, these breaches are becoming not only more frequent but also increasingly devastating.

“Over $300 billion is invested into cybersecurity every single year. Yet, damages have ballooned to a mind-numbing $10 trillion and are growing 23% annually.” Loewy pointed out.

According to Loewy our cybersecurity strategies are, unequivocally, not working. Australia stands out as particularly vulnerable. He suggests that the nation’s risk-averse nature has rendered it complacent. Unlike their counterparts in the US or the UK, Australian entities frequently wait for permission to innovate, remaining on the backfoot.

A reflection on the recent high-profile breaches at Optus and Medibank as a recent example. Is our cultural complacency to blame?

Loewy refers to Israel as a counterpoint, a nation often regarded as a cybersecurity titan, credited largely to its high-stakes environment that necessitates innovative and effective solutions. Australia unfortunately lacks the same approach.

Traditional security measures—solutions that he decries as mere "band-aids." The way the world is today cannot be secured by medieval walls and "guards"; it demands a completely different paradigm.

Loewy went on to say, "You're playing a game of whack-a-mole that you can't win."

Despite what companies are saying – Zero Trust model has its vulnerabilities.

"Even in Zero Trust architectures, when core systems like Identity and Access Management get breached, it's game over,” he cautions.

With emerging technologies like AI accelerating the pace of both attacks and innovations, the window for action is narrowing even faster than before. Loewy’s thoughts are a warning and that the tides might be turning as more stakeholders recognise the flaws and seek out new ways to improve their defences.