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Acting Prime Minister Richard Marles and Minister of Home Affairs and Cyber Security Tony Burke have officially launched the Australian Signals Directorate’s (ASD) Annual Cyber Threat Report 2023–24.
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The report revealed a rapidly evolving threat environment, aligning with the broader regional and global strategic environment outlined in the 2024 National Defence Strategy and the 2023 Cyber Security Strategy, with strategic competition being accompanied by technological developments including in cyber capabilities.
This year’s report detailed how malicious state and non-state cyber actors continue to target Australian governments, critical infrastructure, businesses and individuals, including for the purposes of espionage, disruptive effects and financial gain.
Acting Prime Minister Richard Marles said, “The ASD Annual Cyber Threat Report comes amid a continued deterioration in Australia’s strategic environment. In this context, ASD plays a key role in countering threats in the cyber domain. The continued cooperation of Australian businesses and individuals is also crucial to defending our country from cyber threats.”
While the number of cyber incidents being reported remains steady, the report showed the impact and costs of cyber crime to Australian small businesses and individuals are increasing.
Key findings from the report include:
- ASD received over 36,700 calls to its Australian Cyber Security Hotline, an increase of 12 per cent from 2022–23.
- ASD received over 87,000 reports of cyber crime over the financial year, an average of a report every six minutes.
- 11 per cent of the 1,100 cyber security incidents ASD responded to related to critical infrastructure.
The average cost of cyber crime for small businesses rose by 8 per cent from last year to $49,600 per report, and by 17 per cent for individuals to $30,700 per report.
“The Australian government is committed to combating cyber threats and increasing Australia’s cyber defences, including through our $15–$20 billion investment over the next decade to enhance cyber domain capabilities as part of the 2024 Integrated Investment Program,” Minister Marles said.
This year’s report reinforces the importance of having close public and private sector partnerships to effectively bolster Australia’s cyber defences. It also highlights the need for all Australians to play their part in protecting the nation’s cyber security.
Minister Burke said, “This report underlines the urgency of our systemic response to the cyber security threat. This is our fastest-growing threat and we need to use all the tools available to government and business to confront it. This report only reinforces the importance of the cyber security legislation current before the Parliament.”
The Albanese government is committed to leading these efforts and has committed $15–$20 billion over the next decade in the 2024 Defence Integrated Investment Program to enhance our cyber domain capabilities. This includes prioritising funding for REDSPICE to enhance ASD’s cyber and signals intelligence capabilities.
It has also committed $586.9 million to delivery of the 2030 Cyber Security Strategy, appointed the nation’s first cyber security coordinator, developed the first stand-alone Cyber Security Act and strengthened the Security of Critical Infrastructure Act (SOCI), made attributions against foreign actors, created the Executive Cyber Council, and used the Protective Security Policy Framework to uplift Commonwealth cyber security.
Minister Burke said, “We have made historic progress since coming to office, but the work is never done. We need to keep working together to keep our country safe.”
The government has also taken concrete steps to deter cyber criminals and hold them to account, including by using for the first time Australia’s autonomous cyber sanctions framework to impose cyber sanctions on Russian criminals.
The Annual Cyber Threat Report 2023–24 is available here.
