As cyber attacks on private businesses and households have risen in Australia recently, the country has announced a host measures to deal with the menace.
One such measure announced by Australian government entails spending about $1.2 billion on enhancing it’s cyber security defence, through which hopes to bring the vulnerability under control.
Scale of damages caused
The magnitude of damages which such cyber attacks are causing to the Australia’s economy have been pegged at A$29 billion. Which is roughly 1.5% of Australia’s gross domestic product (GDP).
How will the money be spent
The budgetary allocation of $1.2 billion (A$1.66 billion) will be carried out over a period of 10 years to build a stronger chief cyber intelligence agency which is responsible for thwarting such attacks, as told by Prime Minister Scott Morrison in Canberra.
Who may be orchestrating these attacks?
According to a report done by Reuters, it’s alleged that Beijing could be the state actor behind such attacks, as shared by highly placed sources with them. Beijing however has denied any such involvement.
Source: Livemint
Global Annal 