Australian leaders hesitant to disclose breaches

Nine in 10 Australian C-suite executives are concerned that requirements for mandatory disclosure of cyber incidents could lead to a loss of competitive advantage, according to new research from PwC. The company’s 2023 Global Digital Trust Insights Survey also found that 81% of Australian respondents felt that requirements to disclose information to regulators and investors discourage them from sharing information with law enforcement authorities. At the same time, 89% of Australian respondents agreed mandatory disclosures of cyber incidents requiring comparable and consistent formats were necessary to gain stakeholder trust and confidence.