Cybercrime on the Rise in Australia: 94,000 Reports Made to ASD in 2022-2023 Financial Year
The Australian Signals Directorate’s (ASD) Annual Cyber Threat Report for the 2022-2023 financial year has revealed a significant increase in cybercrime reports across the country. The report highlights the severity of the threat posed by malicious cyber activities, with over 94,000 reports made to the ASD, a 23% jump from the previous year.
Critical Infrastructure Targeted
The report shows that Australia’s critical infrastructure was targeted in 143 incidents, with seven entities directly notified about suspicious activity. Compromised accounts and credentials were responsible for 57% of these incidents, while denial-of-service attacks and network breaches also played a significant role.
Financial Toll of Cybercrime Rises
The financial toll of cybercrime has also risen, with an average reported cost per incident increasing by 14%. Small businesses suffered the most, with an average cost of $46,000 per incident, while medium-sized businesses faced losses of up to $97,000.
Ransomware Remains a Persistent Threat
Ransomware remains a persistent threat, with 10% of all responded incidents including ransomware. The ASD notified 158 entities about ransomware activity on their networks, a 7% increase from the previous year.
Growing Competition in Indo-Pacific Region Drives Malicious Cyber Activities
The report also highlights the growing competition in the Indo-Pacific region, which is driving malicious cyber activities. Deputy Prime Minister and Defence Minister Richard Marles warned that both state and non-state actors are targeting Australia’s critical infrastructure, businesses, and households.
Sectors Most Affected by Cyber Security Incidents
The sectors most affected by cyber security incidents include:
- Federal government
- Professional, scientific, and technical services
- Education and training
- Healthcare and social assistance
- Financial and insurance services
Australian Protective Domain Name System Mitigates Threats
The Australian Protective Domain Name System has been key in mitigating threats, blocking over 67 million malicious domain requests.
Report Highlights Persistent Threat Posed by State Cyber Capabilities
In a statement, Marles emphasized that the report demonstrates the persistent threat posed by state cyber capabilities to Australia’s networks. He also highlighted the added complexity posed by emerging technologies such as artificial intelligence.
Full Report Provides Further Insights
The full report provides further insights into major cybersecurity topics and trends seen in the past year.