🔐💼💡 Federal Budget 2023: A glimpse into Australia's future of tech, cybersecurity, and privacy!

The recently unveiled Federal Budget 2023 brings notable highlights:
Digital Infrastructure: A $26.9 billion investment in enhancing Australia's digital infrastructure is set to streamline online service access, offering prospects for tech businesses.

Cybersecurity & Cyber Wardens Program: With escalating cyber threats, the budget prioritises cybersecurity, allocating resources to fortify cyber defences, including the Cyber Wardens program aimed at building a resilient cybersecurity workforce. Up to 50,000 cyber wardens will be trained over the next three years.

Quantum & AI Technologies: Recognising the transformative potential of quantum computing and AI, the budget sets aside substantial funds for these frontier technologies, showing commitment to innovation.

Tech Sector Wins: The budget caters to the tech sector with increased funding for R&D, innovation, and skills training - vital for industry growth and competitiveness.

Privacy and Digital Rights: As per Allens' insights, the budget emphasises privacy protections and digital rights, reinforcing the importance of a secure online environment for Australians.

Future Commitment: This budget reflects a commitment to a future where technology and cybersecurity are integral to Australia's socio-economic fabric, marking a step towards a resilient digital economy.

How will these changes influence your career or business?

Thoughts on the Cyber Wardens program and the focus on quantum and AI tech?

Are there areas you feel need more attention?

Fake MyGov profiles and unauthorised ATO access: The new cyber threat for Australian taxpayers

Cybercriminals targeting Australian taxpayers through fake MyGov profiles and unauthorised ATO account access have raised concerns.

Attackers create counterfeit MyGov profiles linked to victims' personal information, accessing ATO accounts to divert tax refunds and gather sensitive financial data. Weak security, such as reused passwords or weak multi-factor authentication, such as weak security questions or emailed security codes, if your email is also compromised, may contribute to breaches.

Case Study:

Sue, an Australian taxpayer, found unexpected changes to her bank details on her MyGov account. Cybercriminals accessed her ATO account via a fake MyGov profile, redirecting her $25,000 tax refund. Sue's case emphasises monitoring MyGov and ATO accounts for discrepancies and acting quickly when noticing suspicious activity.

Warning signs include unusual MyGov account activity, unexplained bank detail changes, unauthorised logins, or unfamiliar transactions. Regular monitoring and reporting suspicious activity are crucial. Victims of high-profile breaches (e.g., Medibank, Optus, Latitude) face higher risks and you can request a security block on your TFN.

Protection measures:

✅ Strengthen login credentials: Use strong, unique passwords for MyGov and email accounts. Ideally randomised ones via a password manager. Enable 2FA. An authenticator app is MyGov's most secure two/multi factor option.

✅ Beware of phishing emails: Avoid clicking links or downloading attachments from unverified sources; verify emails from ATO or MyGov.

✅ Monitor accounts: Regularly check MyGov and ATO accounts for suspicious activity. Have I Been Pwned site regularly to see if your email(s) has been involved in a data breach.

✅ Update devices: Install security patches and use reputable antivirus software.

✅ Report suspicious activity: Report compromised MyGov or ATO accounts to the ATO and Services Australia.

Being vigilant, securing personal information, and staying informed about cybersecurity threats is essential to defend against cybercriminals.

Latitude Financial Services Data Breach

You may have heard of the most recent data breach at Latitude Financial Services, in which the personal identification information of approximately 300,000 customers was stolen. We are not affiliated with Latitude Financial Services, but we wanted to make you aware of this incident as it may impact you if you are a Latitude Financial Services customer.

Latitude Financial provide financial services such as home and personal loans as well as credit card services for retailers such as Harvey Norman, JB Hifi, Good Guys etc. that offer interest free terms. 

According to reports, an unauthorised third party gained access to a portion of Latitude Financial Services' customer database on March 10, 2023. The stolen information may include your name, address, date of birth, contact information, and possibly other personal data.

We strongly advise that you take immediate steps to protect your personal information if you are or have been a Latitude Financial Services customer. 

This may include monitoring your financial statements and credit reports for any unauthorised activity, changing your password and enabling two-factor authentication for any accounts that use the same or similar passwords, and being cautious of any suspicious or unexpected communications or requests for personal information.

We encourage you to contact Latitude Financial Services directly for additional information and guidance on how to protect your personal information. We also recommend that you consider placing a fraud alert or security freeze on your credit report with the major credit bureaus.

We understand the importance of safeguarding personal information and we take data breaches seriously as we have seen the impact it has had on individuals and businesses over the years.

We are committed to supporting our customers that may have been impacted by this data breach during this difficult time and will continue to monitor the situation closely.

This is a great opportunity for you to do some “spring cleaning” and improve your password and Cybersecurity hygiene.

Firstly, get yourself a password manager, such as LastPass, so you can not only store all your passwords securely, you can use the manager to:

• Check how secure your passwords are

• Ensure you’re using unique passwords for every site or service you’re subscribed to

• Check to see if your email address(es) or commonly used passwords have ever been involved in a known breach. You can also check this at Have I Been Pwned.

DON’T make up your own passwords.

Password managers create random, unique passwords, and let you set the complexity and length.

We recommend:

• Upper and lowercase characters

• Numbers

• Symbols (not all sites allow this)

• 20 characters (not all sites allow passwords this long)

• Set a complex and easy to remember master password for your password manager.

• We recommend a sentence with upper and lowercase, numbers and a symbol. E.g. ILoveParisInSpring2022! is a strong password.

For any sites or services, you’ve subscribed to that offer multifactor authentication for your online accounts, turning this on is a must. Only certain sites force multifactor authentication on you, such as financial accounting packages such as Xero and MYOB.

For any others, the best thing to do is to Google “How to turn on multifactor for %INSERT SERVICE HERE%” and you should be able to find an FAQ page for that service explaining how to enable it.

This is your first line of defence!

Now, not all multifactor authentication is created equal. Some are more secure than others. e.g. getting a code sent to your email or sending an SMS to your mobile is not recommended. This is worth a separate post. Watch this space!

However, some sort of MFA is better than nothing.

What Else Could You Do?

Credit Reporting

Put a temporary ban on your credit reporting - this will block anyone from applying for credit in your name. Extensions to the ban are possible under certain circumstances, especially if you suspect you’ve been the target of identity theft or Cybercrime. https://www.equifax.com.au/eform/submit/credit-ban

Banking

Make sure all your financial systems have multi-factor authentication. Surprisingly, and perhaps even shockingly, some banks and financial institutions don't force MFA on you, and some don't even offer it.

Contact your bank and notify them your data has been breached in the Optus breach and ask them to put a note on your file.

Further Information

Please visit cyber.gov.au or call them on 1300 CYBER1 hotline

Be alert for scams referencing the Latitude Financial Services data breach. Learn how to protect yourself from scams by visiting www.scamwatch.gov.au.

If you are concerned that your identity has been compromised or you have been a victim of a scam, contact your bank immediately and call IDCARE on 1800 595 160.

If your identity has been stolen, you can apply for a Commonwealth Victims' Certificate

The following websites can help you protect yourself and stay informed:

• Identity theft | Moneysmart

• Identity fraud | OAIC

• Report cybercrime | https://www.cyber.gov.au/acsc/report

• Australian Cyber Security Centre Homepage | ACSC

• Office of the Australian Information Commissioner

The Impact of AI on Automation

Artificial Intelligence (AI) and automation have become an integral part of today's world, transforming industries and driving efficiency across the globe.

Australian organisations, too, are reaping the benefits of these revolutionary technologies, saving significant amounts of time and money. In this blog post, we will explore the impact of AI and automation on Australian organisations, backed by recent statistics that demonstrate their growing importance.

In recent years, Australia has seen a surge in AI adoption, with organisations across various sectors incorporating these technologies into their daily operations. According to a recent report by the Australian AI Industry (2022), AI adoption has grown by an impressive 37% over the past three years. This growth is primarily driven by the increasing demand for efficiency and cost reduction among Australian organisations.


The most significant benefit of AI and automation for Australian organisations is the time and cost savings. By automating repetitive, time-consuming tasks, organisations can reduce their dependence on human resources, leading to substantial cost savings.

Recent statistics from the Australian Bureau of Statistics (2022) indicate that businesses that have adopted AI and automation report an average productivity increase of 22%. This increase in productivity translates to an estimated AUD 15 billion in cost savings for Australian businesses annually.

Furthermore, a study by Deloitte Australia (2022) found that organisations that have implemented AI and automation could save up to 20% in labour costs. This reduction in labour expenses has allowed businesses to redirect their resources towards innovation, research, and development.

Here are some real life examples of AI and automation across different industries:

Mining Industry: Automation and AI technologies have revolutionized Australia's mining sector. For instance, Rio Tinto, a leading mining company, has adopted autonomous trucks, drills, and trains in its operations, resulting in a 15% reduction in operating costs.

Healthcare: Australian hospitals are leveraging AI to improve patient care and reduce costs. Melbourne's Royal Children's Hospital has employed AI-powered robots to assist with medication management, leading to a 90% reduction in medication errors.

Financial Services: The Commonwealth Bank of Australia has integrated AI-driven chatbots for customer support, saving an estimated AUD 20 million annually by reducing call centre costs and improving customer satisfaction.

The adoption of AI and automation in Australian organisations has already led to remarkable time and cost savings. These technologies are transforming industries by enhancing productivity, reducing labour costs, and driving innovation.

As the world continues to evolve at a rapid pace, organisations must embrace AI and automation to stay competitive or risk falling behind.

AI in Cybersecurity is a double-edged sword.

Imagine a world where cybersecurity is no longer a game of cat and mouse, but a fierce battle of algorithms.

AI is rapidly transforming the landscape of cybersecurity, introducing both innovative solutions and alarming risks.

AI has become an indispensable tool for organisations looking to strengthen their cybersecurity measures.

Advanced AI algorithms can detect and neutralise threats at an unprecedented speed, often before they have a chance to cause damage. Machine learning and deep learning techniques allow AI systems to adapt and respond to new threats quickly, outpacing traditional security solutions. These advancements have proven invaluable in tackling ever-evolving cyber threats.

However, the growing integration of AI in cybersecurity has also given rise to new concerns.

One major issue is the potential misuse of AI by cyber criminals. With AI-powered tools at their disposal, attackers can create more sophisticated malware, automate large-scale attacks, and breach defences by mimicking human behaviour. This could lead to an arms race between cybercriminals and security professionals, with each side continually developing more advanced AI technologies to outwit the other.

Another challenge is the inherent vulnerability of AI systems themselves. As AI becomes more central to cybersecurity, it also becomes a prime target for cybercriminals. Attacks on AI systems can compromise their integrity, manipulate their decision-making processes, or even exploit their vulnerabilities to gain unauthorised access to sensitive data. Ensuring the security of AI algorithms is therefore paramount in maintaining effective cybersecurity.

Moreover, there are ethical concerns surrounding the use of AI in cybersecurity. As AI becomes increasingly autonomous, questions arise about accountability, transparency, and fairness.

If an AI system makes a mistake that leads to a security breach, who is responsible? How can we ensure that AI-driven security measures don't disproportionately target certain groups or individuals?

Despite these challenges, AI's potential benefits to cybersecurity cannot be ignored. Collaboration between security professionals, AI developers, and policymakers is essential in striking the right balance. By establishing guidelines and best practices, we can harness the power of AI to fortify cybersecurity while mitigating the risks it presents.

AI is undoubtedly a game-changer for cybersecurity. Its ability to detect and respond to threats quickly and adaptively is invaluable in our hyper-connected world. However, we must also be mindful of the potential risks associated with its misuse and vulnerabilities. By addressing these concerns head-on, we can ensure that AI continues to be a force for good in the ongoing battle against cybercrime.