Enhanced Cyber Resistance Expected with Budget Investments as Perposed by AUSCERT
Australian Government Announces Major Investments in Digital Infrastructure and Cybersecurity
The Australian government has unveiled a significant investment plan aimed at strengthening the nation's digital infrastructure and enhancing cybersecurity across various sectors. The budget, spanning over the next five years, allocates billions of dollars to various initiatives.
One of the key areas of focus is the Australian Taxation Office (ATO), which will receive AUD23.3 million annually for four years from 2024-25 to continue operating the secure e-Invoicing network. Additionally, the ATO will receive AUD187 million over the same period to bolster its ability to detect, prevent, and mitigate fraud against the tax and superannuation systems.
The government has also announced plans to establish a new compliance taskforce within the ATO, which will receive AUD83.5 million over four years to recover lost revenue and intervene in fraudulent refund attempts.
In the realm of national defence, the 2024 National Defence Strategy's ten-year budget stands at AUD50.3 billion, including provisions for national defence in the cyber domain.
The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) will receive AUD206.4 million over four years from 2024-25 for the improvement of their data capability and cybersecurity, as well as the modernization of their legacy systems.
The Department of Foreign Affairs and Trade will receive AUD187.8 million over four years from 2024-25 for ICT and security upgrades at its premises.
The National Disability Insurance Scheme (NDIS) Quality and Safeguards Commission will receive AUD160.7 million over four years from 2024-25 for upgrades to its information technology systems.
The Department of Parliamentary Services will receive AUD12.8 million over four years from 2024-25 for information technology upgrades to support business productivity and cybersecurity.
The Australian Sports Foundation will receive AUD8 million annually for three years from 2024-25 to support technology upgrades and cybersecurity improvements.
The government will also provide AUD67.5 million over four years from 2024-25 to combat scams and online fraud through the introduction of mandatory industry codes and increased use of the secure eInvoicing network.
Moreover, AUD288.1 million will be provided over four years for Digital ID to strengthen privacy, protect consumers, and mitigate fraud and identity theft.
The government will also allocate AUD39.9 million over five years to establish a new advisory body for AI technology, focusing on safe and responsible adoption and blocking national security risks.
Lastly, AUD50.0 million will be provided over four years from 2024-25 for enhancements to the myGov platform to improve cybersecurity and user support, starting in 2024-25.
Organisations that run digital platforms and services, particularly those in the technology and e-commerce sectors, will be supported by the establishment of mandatory industry codes to address fraud cases on their platforms.
These investments underscore the Australian government's commitment to maintaining a robust digital infrastructure and ensuring the safety and security of its citizens in the digital age.
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