In September 2021, the Australian Cyber Security Centre (ACSC) reported that it had received 67,500 reports of cyber incidents in Australia in the 2021 financial year. This was an increase of 13 per cent from the previous year and amounted to a report received approximately every eight minutes. These reported incidents resulted in losses totalling more than $33 billion to Australian businesses.

It is expected that losses will get significantly worse, with Aon predicting global cyber losses to total between $2 to $6 trillion annually in 2022. According to AustCyber, in response to cyber risks, Australian businesses spent $5.6 billion on cyber security in 2020, and this figure is forecast to rise to $7.6 billion by 2024. But the ACSC reports that nearly 50 per cent of Australian small and medium-sized enterprises (SMEs) spend less than $500 per year on cyber security.

Because of this, managing partner Tony Macvean said Mr Winokur’s experience would help the firm respond to significant market need and opportunity.

“Eden’s expertise will be a great asset in a market where there is significant need for advice on cyber incidents, and cyber advisory expertise,” he said.

“We are the perfect firm to service clients with cyber issues given our industry specialisation and the strength of our insurance, technology and privacy practices.”

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Mr Winokur’s practice includes handling cyber insurance claims and advising on cyber and data security risks. He has acted on hundreds of local and multinational cyber incidents and data breaches for insurers, corporates and SMEs.

Commenting on his new role, Mr Winokur said: “I am incredibly excited to join the team at Hall & Wilcox and contribute to its success. Together, we will focus on delivering great and valuable outcomes for all clients as we respond to and develop strategies to mitigate the growing and evolving threats posed by cyber risk.”