Cyber Securıty, Australıa

Cyber Securıty, Australıa

Australia to spend $1.62 billion on cyber security for private sector after rise in attacks

Australia to spend $1.62 billion on cyber security for private sector after rise in attacks

6/8/2020 5:20:00 AM

Australia to spend $1.62 billion on cyber security for private sector after rise in attacks

SYDNEY (REUTERS) - Australia will spend A$1.66 billion (S$1.62 billion) over the next 10 years to strengthen the cyber defences of private companies and households following a rise in cyber attacks, Prime Minister Scott Morrison will announce on Thursday (Aug 6).. Read more at straitstimes.com.

Cyber attacks on businesses and households are costing about A$29 billion or 1.5 per cent of the country's GDP, according to Morrison's prepared remarks seen by Reuters.The package is the latest cyber spending commitment from Australia, coming just weeks after Canberra said it will spend A$1.35 billion over the next decade to bolster the capabilities of the country's chief cyber intelligence agency.

24 new community COVID-19 cases in Singapore, 17 linked to Changi Airport cluster Jewel Changi Airport, Terminals 1 and 3 to be closed to public as COVID-19 testing continues 'Impossible' to hold Olympics during COVID-19 pandemic, Japan doctors union warns

That spending followed an attack by a"sophisticated state-based actor" on all levels of government, political bodies, essential service providers and operators of critical infrastructure.Although Australia has declined to say who it believed was responsible for those attacks, three sources briefed on the matter told Reuters the country believed China was responsible, a suggestion swiftly dismissed by Beijing.

While much of Australia's cyber policy to date has focused on bolstering the defences of government agencies after an attack on the country's parliament in 2019, but malicious cyber activity is increasing against small and medium businesses, universities and households, says Morrison. headtopics.com

Morrison will pledge the increased spending to fortify the defences of critical infrastructure, boost police efforts to disrupt the criminal activity on the dark web and strengthen community awareness."We will protect our vital infrastructure and services from cyber attacks. We will support businesses to protect themselves so they can succeed in the digital economy," says Morrison.

While Australia seeks to strength its cyber defences, it will also embark on a more aggressive approach to disrupting would-be attackers.The Australian Signals Directorate - which Reuters revealed late last year determined China was responsible for hacking Australia's parliament - will be given new funding to counter foreign cyber attacks.

Read more: The Straits Times »

Singapore returns to tighter COVID-19 measures: What's allowed under the new rules?

SINGAPORE: With the recent rise in COVID-19 cases in the community, Singapore has announced tighter measures for about three weeks from Saturday ...

Australia to spend US$1.2 billion on cybersecurity for private sector after rise in attacksSYDNEY: Australia will spend A$1.66 billion (US$1.19 billion) over the next 10 years to strengthen the cyber defences of private companies and ...

Twitter fixes security issue affecting some Android devicesTwitter Inc said on Wednesday it has fixed a security issue that could allow hackers to access private Twitter data of some Android users, ...

Disney's surprise profit bolsters futures ahead of economic dataREUTERS: U.S. stock futures rose on Wednesday after Disney squeezed out a quarterly profit despite taking a US$5-billion charge due to the ...

Virgin Australia closes budget offshoot, fires 3,000 staffPandemic-struck airline Virgin Australia announced Wednesday it would close budget subsidiary Tigerair Australia and lay off 3,000 staff as it ...

Bayer chalks up 9.5 billion euro second quarter net loss after litigation settlementGerman drugs and pesticides group Bayer reported a 9.5 billion euro (US$11.2 billion) net loss for the second quarter, following a US$10.9 ...

Aviation sector carries biggest Covid-19 corporate default risk: PollLONDON (REUTERS) - The aviation sector carries the biggest risk of corporate default as a result of the coronavirus pandemic, according to a survey of insurers published by broker Gallagher on Tuesday (Aug 4).. Read more at straitstimes.com.