The federal government’s cyber security strategy has been welcomed by industry groups as a vital resource for the national economy and community.
According to Tech Council of Australia (TCA) CEO Kate Pounder, the strategy is a major step forward to developing a comprehensive approach that would uplift national cyber capabilities.
“The new cyber security strategy is a comprehensive response to the increasing threat of cyber-attacks and data breaches that will help bring Australia up to world’s best practice,” Pounder said in a statement.
“The strategy recognises there is no silver bullet and there is no single shield that will protect us from cyber criminals — it will take a comprehensive and multi-pronged approach, underpinned by strong collaboration between the government, industry and the community.”
The TCA is the peak industry body of 160 members representing Australia’s tech sector.
Pounder said the strategy could improve the lives of all Australian citizens, and was pleased to see a regulatory response to calls the council recently made following a series of significant cyber-attacks and data breaches that affected millions of Australians over the past 12 months.
“We are pleased to see a strong focus on building Australia’s cyber security skills and industry capabilities, utilising technology solutions, supporting consumers and small businesses and ensuring our legal frameworks are fit for the digital age,” Pounder said.
“We congratulate Clare O’Neil for her vision and work on the strategy and for her strong engagement with industry on its development.”
“We back the minister’s ambition for Australia to be the world’s most cyber-secure nation by 2030 and we support the effort being taken to get there,” she added.
Earlier this week minister for cyber security and home affairs Clare O’Neil launched a $11 million program to help small businesses boost their cyber resilience. The service will also provide SMEs with step-by-step assistance in the aftermath of a cyber attack.
The SME community, including 2.5 million small businesses, was most vulnerable to the impacts of cyber incidents, the minister said. Support from the Small Business Cyber Resilience Service aims to assist businesses of all sizes to avoid serious financial and reputational damage.
“We understand the challenges that small businesses face in the complex world of cyber security, but they are not on their own,” O’Neil said.
“The Australian government’s cyber security strategy will make sure the support is available to help them understand and improve their own cyber security.”
Recent government reforms to privacy laws further aim to protect SMEs from being attractive targets for cybercriminals, in addition to the creation of a $7.2 million voluntary cyber health-check program for businesses to self-assess their cyber security maturity.
O’Neil added that the new cyber strategy was underpinned by six shields, with ‘strong businesses and citizens’ as a central component of each.
“Uplifting the cyber security of our small businesses is integral to a cyber secure and resilient nation, and this dedicated support will make a huge difference in their preparedness and resilience,” she said.
The Council of Small Business Organisations Australia (COSBOA) welcomed the government’s new measures, with CEO Luke Achterstraat claiming cyber risk was a high concern for the small businesses sector which is estimated to lose $2 billion annually.
“The average financial loss due to business-compromised email has risen to over $50,000 per incident which itself can be terminal for many small businesses,” Achterstraat said.
“Small business owners and employees are time-poor and often inadequately prepared for cyber threats. These programs open the door for small businesses to have the cyber conversation, receive a diagnosis and be referred to appropriate courses of action.”
COSBOA has also welcomed new mandatory reporting obligations for ransomware attacks, and the creation of a single online reporting portal to help businesses navigate mandatory obligations.
“Small businesses require ease-of-use, and for reporting obligations to exist all under the one roof — only with reduced red tape will small businesses be able to understand and execute their reporting responsibilities,” Achterstraat said.
The cyber security strategy discussion paper authored by an expert advisory board including Andrew Penn, Air Marshal Mel Hupfeld, and Rachael Falk was accepting responses to its ideas until April of this year.
READ MORE:
