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Malcolm Turnbull Announces $230 Million Cyber Security Initiative

Posted by BENZENE TEAM on

Prime Minister Malcolm Turnbull Announces $230 Million Cyber Security Initiative

Prime Minister Malcolm Turnbull wants to establish Australia as one of the safest places in the world to conduct business.  On April 20, Turnbull announced a massive cyber security initiative that includes hiring over 100 IT specialists and implementing 33 new initiatives.
Like much of the world, Australia’s official organisations have been no stranger to the severity of cyber attacks.  Turnbull revealed that both The Department of Parliamentary Services and the Bureau of Meteorology suffered significant hacks.  And he believes that every major organisation with experience some type of cyber intrusion.  The hope of his new expensive plan is that every company will have the necessary tools to deal with an attack properly when it inevitably occurs.
Like the US in its use of cyber assault against global terrorist groups like ISIS, Turnbull has alluded to the Australian government’s ability to wage war on terrorists in the same fashion. 
 
But one of the primary objectives of investing so heavy in cyber security is to diversity Australia’s marketplace.  According to the official website for the PM, his plans will help with Australia’s “transition to a new and more diverse economy which is fueled by innovation, the opening of new markets and more investment in Australian enterprise”.
The program reportedly took 18 months of planning, and is officially called the Cyber Security Defence Strategy.  Cybercrime cost Australia an estimated $1.2 billion last year, and there is rising fear that the loss will continue to grow.
Several parts of the initiative are already in the works.  $39 million has been committed to a Cyber Security Center, $47 million for threat-sharing centres, and $36 million will be dedicated to enhancing intelligence and investigation capabilities. 
It’s clear that Turnbull is treating cyber security as a gravely serious issue.  With this unprecedented focus on the threat, there will surely be more governments following suit.
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