All in this together
Critically though, partnerships are vital if this strategy is to be effective. The government will create an environment where everyone knows the “rules of the road” - including through legislation if necessary - to improve cyber resilience so Australia can take advantage of the opportunities of an increasingly digital economy.
It is important we have consistent and sound levels of cyber security across organisations as we are all impacted if one organisation suffers an attack - directly if we interact with that organisation or indirectly through the damage in confidence about conducting business online.
Since releasing the strategy paper, Government has already started consulting on changes to the legislative framework concerning the security of critical infrastructure.
Changes that are being proposed include bringing more entities into the framework and mechanisms for Government to provide greater assistance to entities in times of threat.
Different regulators would also play a role in setting and enforcing sector-specific standards for certain entities that are directed at common outcomes. Banks are already subject to the Australian Prudential Regulation Authority’s (APRA) information security standard CPS234.
Meanwhile, other consultation will include reform options including for privacy, consumer and data protection laws and duties for company directors and other business entities.
Included in the strategy funding is $A66.5 million to assist Australian’s major critical infrastructure providers assess their networks for vulnerabilities and to enhance their cyber security posture.
There is a further $A62.3 million for a classified national situational awareness capability to better enable government to respond to cyber threats to critical infrastructure.
For the protection of business, the government will work with large organisations such as banks and internet service providers to ensure small and medium enterprises have access to cyber security in the normal course of running their business.
At ANZ, we already work to provide customer security services and education and broader awareness raising for customers and across the community through our platforms and public engagement. Far from being an impost, this work to support customers and the community is clearly aligned with ANZ’s purpose and strategy.