##### Press release # Cybersecurity Report: 64% of Australia’s Top Companies At Higher Risk of Ransomware Attacks ##### [UpGuard Team](#) February 15, 2023 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: https\://www\.upguard.com/lp/asx-200-security-report **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. **Contact us:** press\@upguard.com ### Sign up for our newsletter UpGuard's monthly newsletter cuts through the noise and brings you what matters most: our breaking research, in-depth analysis of emerging threats, and actionable strategic insights. ## UpGuard blog Learn about the latest issues in cybersecurity. #### [PHP2Shell Is a Vendor Problem Too: How to Find and Close Third-Party Exposure](/blog/php2shell-third-party-exposure) Your vendors run PHP too. 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[](/team/lance-turner) [Lance Turner](#) October 11, 2026 #### [We Researched Four AI Evidence Analysis Tools for TPRM. Here’s What We Found.](/blog/ai-evidence-analysis-tools-for-tprm) We researched four AI evidence-parsing tools against four criteria that security teams often overlook. None nailed all four. [](/team/cassy-van-eeden) [Cassy van Eeden](#) September 29, 2026 #### [12 Cybersecurity Horror Stories of 2026 (No Costume Required)](/blog/cybersecurity-horror-stories-2026) A warning ignored once becomes a headline. Read more about these 12 real 2026 cybersecurity incidents, and the sign each one gave before it made the news. [](/team/revashni-moodley) [Revashni Moodley](#) October 14, 2026 [View all blog posts](/blog) ## See UpGuard In Action Book a free, personalized onboarding call with one of our cybersecurity experts. [Contact sales](/demo) [Free demo](/demo) ##### Free instant security score ## How secure is your organization? 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