The cost of data breaches to Australian companies has surged over the past year to be well above global averages. 47 percent of Australian CISOs said breaches had costed them more than US$5m (A$7m) This is well ahead of the global average of 8 percent of breaches costing that much. The increase occurred during period in which Australias notifiable data breaches (NDB) scheme has dramatically increased scrutiny of data-breach costs and reporting obligations. 48 percent of Asia-Pacific CISOs are measuring their breach handling in terms of time to remediate rather than time to detect up from 36 percent last year.”]