The Albanese government will pump an extra $600 million into fighting cybercriminals, force businesses to report when they have been hacked, and create a special board akin to transport accident investigators to learn lessons from major attacks under a rebooted cybersecurity strategy.

Businesses also face new rules limiting hoarding of customer information, with a review to “consider any unnecessary burden and vulnerabilities that arise from entities holding significant volumes of data for longer than
necessary”.