Australians reported cybercrimes at a rate of one every six minutes over the past year.
The annual Australian Signals Directorate’s (ASD) Cyber Threat Report has shown the ASD received more than 87,000 reports of cybercrime over the 2023-24 financial year.
It also revealed 11 percent of the 1100 cyber security incidents ASD responded to related to critical infrastructure.
Federal Defence Minister Richard Marles said this year’s report detailed how malicious state and non-state cyber actors continued to target Australian governments, critical infrastructure, businesses and individuals.
Minister Marles said while the number of cyber incidents being reported remained steady, the impact and costs of cybercrime to Australian small businesses and individuals was increasing.
He said the average cost of cybercrime for small businesses rose by eight percent from last year to $49,600 per report, and by 17 percent for individuals to $30,700 per report.
“The ASD Annual Cyber Threat Report comes amid a continued deterioration in Australia’s strategic environment.
“In this context, ASD plays a key role in countering threats in the cyber domain. The continued cooperation of Australian businesses and individuals is also crucial to defending our country from cyber threats.
“The report reiterates the importance of having genuine partnerships between the public and private sectors to bolster our nation’s cyber defences.”
Read the full Annual Cyber Threat Report 2023-2024.
