Launch of the Annual Cyber Threat Report

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The Hon Richard Marles MP

Deputy Prime Minister

Minister for Defence

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02 6277 7800

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4 November 2022

Australians are encouraged to help protect the nation’s cybersecurity future, as the Australian Cyber and Security Centre (ACSC) – a key part of the Australian Signals Directorate (ASD) - launches its third annual Cyber Threat Report.

The Cyber Threat Report is a key tool of the ASD in helping all Australians better understand everyday cyber threats, and improve their cyber defences.

Amid an increasingly deteriorating geo-strategic environment and an increase in cyber-criminal activity, it is now more important than ever that individuals, industry, business and government come together to reinforce our online resilience.

Key findings from the 2021-22 Cyber Threat Report include:

·         The ACSC received over 76,000 cybercrime reports, an increase of nearly 13 per cent from the previous financial year.

·         On average one cybercrime report was received every seven minutes, compared to every eight minutes last financial year.

·         There has been a 25 per cent increase in the number of publicly reported software vulnerabilities.

·         Financial losses due to Business Email Compromise increased to over $98 million, with an average cost of $69,000 per report.

·         The average cost per cybercrime report has risen to around $40,000 for small business, over $88,000 for medium business, and over $62,000 for large business.

The Albanese Government is committed to protecting the security of Australians, and welcomes the Cyber Threat Report as a key tool to help inform how we can do so into the future.

An important part of this is the Government’s 10 year investment in the ASD, known as REDSPICE, which will further harden Australia’s cyber defences in 2022-23 and beyond.

Throughout its 75 year history, the ASD has defended Australia from global threats and advanced our national interests. It remains at the frontline of defending our nation and keeping Australians safe and secure.            

Quotes attributable to Deputy Prime Minister and Minister for Defence, the Hon Richard Marles MP:

“Over the last financial year Australia has witnessed a heightened level of malicious cyber activity, reflecting the evolving strategic competition across the globe.

“This has been clearly demonstrated in the brutal invasion of Ukraine – where Russia has sought to cause damage not just in traditional warfare, but through the use of destructive malware as well.

“Threat actors across the world continue to find innovative ways to deploy online attacks, as a result too many Australians have felt the impacts of cybercrime.

That is why the Government is committed to reinforcing Australia’s cyber security as a national priority.”

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