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The Australian Cyber Security Centre revealed a 23% surge in cybercrime reports, totaling over 94,000 incidents in the financial year up to June. State-sponsored cyber groups are intensifying attacks on critical infrastructure, businesses, and homes, potentially influenced by Australia's new defense agreement with Britain and the U.S.
Cyber threats are on the rise, with an estimated hack on Australian assets occurring every six minutes, according to the annual threat report. Defence Minister Richard Marles highlighted the growing interest of state actors in Australia's critical infrastructure, partly attributed to the AUKUS defense partnership, focusing on advanced military capabilities.
The report drew attention to the May revelation by the Five Eyes intelligence alliance and Microsoft, exposing a state-sponsored Chinese hacking group spying on U.S. critical infrastructure. This group's techniques could pose a threat to Australia's telecommunications, energy, and transportation sectors.
Marles acknowledged the complexity of Australia's relationship with China, its largest trading partner, emphasizing the need to address security concerns. Despite recent stabilization in diplomatic and trade ties, cybersecurity remains a priority.
To counter the spike in cyber intrusions, the government established an agency in February to coordinate responses to hacks. Additionally, federal cyber laws are undergoing an overhaul, with details set to be released soon. The government aims to make it mandatory for companies to report ransomware incidents as part of its efforts to enhance cybersecurity.
The report highlighted a 14% increase in the average cost of cybercrime to victims. Matthew Warren, director of the RMIT University Centre for Cyber Security Research and Innovation, emphasized the necessity for a closer relationship between industry and government.
A recent survey by the Australian Securities and Investments Commission revealed concerning statistics. Forty-four percent of 700 surveyed companies did not manage risks associated with third parties accessing confidential data. Furthermore, 58% lacked sufficient measures to protect confidential data, and 33% had no cyber incident response plan.
Nigel Phair, a cybersecurity professor at Monash University, warned that cyber attacks against Australia would persist unless organizations prioritized security and risk management for their information assets.
The need for enhanced cybersecurity measures was underscored by a cyber incident at DP World Australia, a major ports operator, which resulted in a three-day operational suspension. The reshaping of Australia's cybersecurity rules was prompted by the 2022 data theft at telecoms provider Optus, exposing personal information of 10 million Australians.
