A $206.4 million Budget commitment to improved data capability and cybersecurity has been given to Australia’s two financial regulators, among a series of smaller cyber upgrades.
The funding, included in the 2024-25 federal Budget, will also go towards stabilising the regulators’ business registers and modernisation of legacy systems following the cancellation of the multibillion-dollar Modernising Business Registers program.
However, even as the dust piles up on last year’s cybersecurity strategy out of the Department of Home Affairs, the government has allocated no further funding for whole-of-government cybersecurity improvements.
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