JLT welcomes cyber funding boost

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JLT has welcomed moves by the government in the recently released Federal budget to increase spending on cyber defences.

The broker welcomed the news that the Government will spend $10.7 million over four years to create a Cyber Security Advisory Office (CSAO) which will be part of the Digital Transformation Agency and look to provide central governance and assurance for cyber security.

“Continuing to strengthen Australian networks and systems, and investing in key government agencies will assist Australia in protecting itself against threat actors seeking to infiltrate Australian businesses through criminal networks or compromised government agencies,” Leo Demer, CEO of JLT Australia said of the move.

The international firm said that addressing current skills shortages in the cyber security market will be key to defending government agencies and Australian businesses from online threats.

The Government has had several high profile cyber incidents in the last 12 months.

The Census website was hit by a distributed denial of service (DDoS) attack which led to the site shutting down for 40 hours, while the Bureau of Meteorology (BoM) was attacked in 2015.

The BoM will receive an additional $200,000 from the budget to improve security and resilience, The Australian reports.

Related stories:
Australia and China joins forces against cyber threats
Australia “unsophisticated” on cyber – industry expert

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