Big business and key agencies are now under ‘daily’ cyber attack

More than half have fallen victim to successful attacks which have shut down or compromised network and data systems.

Australia’s largest companies and key government agencies are under daily cyber attack, with 90 per cent of businesses and ­departments having been targeted for industrial espionage, hacking or security breaches in the past year.

And more than half have fallen victim to successful attacks that have shut down or compromised network and data systems in what intelligence agencies claim is an alarming rise in the level of hostile global cyber warfare.

A report of the Australian Cyber Security Centre, obtained by The Australian, has warned that the “compromise of these systems threatened to result in significant impacts on Australia’s economic prosperity, social wellbeing, ­national defence and security”.

The report, the first to assess the scale of private and public ­sector cyber attack in Australia, and following the allegations of Russian cyber interference in the US election, comes ahead of a meeting today of leading chief ­executives and cyber intelligence officials, to be chaired by Malcolm Turnbull.

“The cyber threat remains ever present. Most organisations (90 per cent) faced some form of ­attempted or successful cyber sec­urity compromise during the 2015-16 financial year,” the report said.

“Organisations faced numerous malicious cyber threats on a daily basis — through spear phishing emails alone, organisations are affected up to hundreds of times a day. These figures reinforce the message to all organisations that experiencing a cyber incident is not a matter of if but when, and what type. Just over half (58 per cent) ­experienced at least one incident that successfully compromised data and/or systems.”

The ASCS, a collaboration of intelligence and security agencies including the Australian Signals Directorate, the Defence Intelligence ­Organisation, ASIO and the ­Australian Federal Police, ­revealed the level of cyber ­attacks now numbered hundreds a day for some companies with the issue elevated to “boardroom” level of Australia’s leading firms.

The Attorney-General George Brandis said while companies and agencies had a high level of preparedness and recovery from cyber attacks, the threat was evolving.

“The survey provides us with a benchmark for future reporting and will be an important document to help the Australian Cyber Security Centre ensure its advice continues to meet requirements, as well as deepening our understanding of the pressures ­industry and government face in cyberspace,” he said.

Mr Turnbull will today lead a forum of executives from companies including Westpac, Wesfarmers, Commonwealth Bank, Qantas, Transgrid and US-based defence industries Lockheed Martin and Northrop Grumman to bolster Australian intelligence co-operation with the private sector to ­mitigate against attacks.

The ASCS report said since the government’s cyber strategy was launched 12 months ago, there had been an elevated level of co-operation between government and industry but more collaboration was needed.