Press release

Cybersecurity Report: 64% of Australia’s Top Companies At Higher Risk of Ransomware Attacks

UpGuard, the third-party risk and attack surface management platform, released the annual ASX 200 Security Report, revealing 64% of Australia’s top 200 companies are at heightened risk of phishing, malware, and ransomware attacks. 

The report, based on publicly-available data collected by UpGuard, is an in-depth analysis of the cyber risk exposure of the ASX 200 companies relating to data breach risk factors across four main areas – website, email, network, and brand. The data was aggregated and calculated by weight factors into an overall security score of 0-950.

Key findings from the ASX 200 Security Report include:

  • 64% of companies had a sub-par email security score, with 44 companies – a mere 22% of the ASX 200 – maintaining optimal scores. 
  • A net overall of 22% of companies improved their security ratings in 2022, as 120 companies saw higher security scores, while 76 experienced a drop in scores.
  • The Communications Services industry had the biggest improvement in average overall security rating by industry, jumping 18.2% from the previous year into a low-risk category.
  • Industrials had the lowest average score, dropping 1.7% from 2021.

“While our ASX 200 research shows a positive uplift in the security postures of Australia’s leading companies, the overall trend of poor email security measures is concerning as ransomware remains a critical email attack vector,” said Kaushik Sen, Chief Marketing Officer at UpGuard.

“The devastating impact of the Optus and Medibank ransomware attacks in 2022 is a rude awakening that Australian companies must mitigate all areas of their cybersecurity risk to avoid facing a similar fate.”

The UpGuard platform generates security ratings based on how well companies configure their internet-facing systems to reduce the likelihood of being compromised. UpGuard’s proprietary scanning software monitors and collects billions of data points daily through trusted commercial, open-source, and proprietary methods.

The full report is available for download at:

About UpGuard

UpGuard helps businesses manage cybersecurity risk. UpGuard’s integrated risk platform combines third-party risk management, security questionnaires, and threat intelligence capabilities to give businesses a full and comprehensive view of their attack surface.

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