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CONTINUOUS CONTROLS MONITORING : MOVING BEYOND CHECKLISTS TO MITIGATE RISK
High-profile data breaches have been making headlines across the Asia-Pacific region . In New Zealand , a third-party data breach affecting several government organisations compromised thousands of autopsy reports and other data . In Australia , recent major breaches of a health insurer and telecom company resulted in a combined 19.5 million stolen customer records . A further 14 million highly sensitive customer records were stolen in March when a consumer finance provided was the latest to fall victim to a cyberattack . A Bloomberg estimate put the total company cost for just one of these attacks between A $ 700 – A $ 960 million .
For dining app company Eatigo International , insufficient digital security measures resulted in a data breach that affected 2.76 million individuals , a fine from Singapore ’ s Personal Data Protection Commission and a recommendation from the regulators to build a comprehensive data inventory that classifies risk levels for the personal data it collects . The consequences of insufficient IT compliance can be high .
In light of these increasingly frequent incidents , one concept has become top of mind for lT and information security professionals : continuous controls monitoring .
Several converging factors drive this trend . As highprofile cyberattacks and data breaches continue to make headlines , the compliance landscape itself has become increasingly complicated .
In Europe , organisations face evolving regulations related to data access , cloud providers and artificial intelligence . In the Asia-Pacific region , authorities from Singapore to Australia are refining their approaches to mandatory breach notifications , privacy regulations and cyber resilience . And in the Americas , organisations have new rules to consider from the U . S . Securities and Exchange Commission on cybersecurity risk management , strategy , governance and incident disclosure . p
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