Intellectual Property, Information Technology & Cybersecurity

In January 2022, the Identity Theft Resource Center in the United States (US) released the 2021 Annual Data Breach Report (Report).¹ Consistent with anecdotal evidence, the Report identified a 68% increase in the number of data compromises from 2020 to 2021.² In this context, data compromise is an umbrella term describing events where personal information is accessible, while data breach refers to where that information is actually accessed and/or removed.³

The rise in cyber-crime is likely referrable to higher gains to be made from such activities, and the increase in the number of individuals possessing the relevant knowledge. Self-reported losses from cyber-crime in Australia totalled more than $33 billion in the 2021 financial year.⁴ In addition, COVID-19 necessitated working arrangements which heavily relied on technology outside the safety of the office environment, leaving individuals and organisations more vulnerable than ever.  

Over the 2020-21 financial year, Australia also saw an increase of nearly 13% in cyber-crime reports from the previous financial year.⁵ While low level ‘cyber security incidents’ were down 28%, a higher proportion of incidents were categorised as ‘Category 4’, meaning the incidents had a more profound effect on victim organisations.⁶

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¹ Identity Theft Resource Center, 2021 Annual Data Breach Report (Report, January 2022) https://notified.idtheftcenter.org/s/2021-data-breach-report>.
² Ibid 5.
³ Ibid 28.
⁴ Australian Cyber Security Centre, ACSC Annual Cyber Threat Report 2020-2021 (Report, 15 September 2021) 17.
⁵ Ibid 10.
⁶ Ibid 19.