Dynamic Business Logo
Home Button
Bookmark Button

Image credit: freestocks on Unsplash

Government invests $23.4m in SME cyber defense

In a bid to bolster the nation’s defence against global cybercrime, the Australian government has announced a substantial investment of $23.4 million in the CyberWardens program as part of this week’s federal budget. 

This initiative aims to actively involve Australian small businesses and their employees in the fight against cyber threats.

The CyberWardens program is set to create up to 60,000 Cyber Wardens within three years. Presently, cyber threats and scams targeting small businesses amount to an estimated annual cost of $29 billion for the Australian economy.

The CyberWardens program functions as an accessible educational tool specifically designed to cultivate a cyber-smart small business workforce.

Similar to workplace safety officers who ensure physical safety within businesses, Cyber Wardens will employ their expertise to help small business employees prevent and protect against digital threats. Geared towards non-technical staff, Cyber Wardens offers a free and user-friendly online program that equips small business employees with the knowledge to identify and manage their cyber risks effectively.

Through the training provided by Cyber Wardens, small businesses will be better equipped to fortify their cyber defences, thereby reducing the likelihood of attacks and enhancing their resilience against potential breaches.

The Australian Cyber Security Centre (ACSC) estimates that 43 per cent of all cyber crimes in Australia target small businesses. Training a Cyber Warden could prevent a single compromised email attack, saving a small business up to $50,000.

The Cyber Wardens program is an initiative led by the Council of Small Business Organisations of Australia, with support from a consortium of industry leaders, including Telstra, CommBank, and the Australian Cyber Security Centre.

Matthew Addison, Chair of the Council of Small Business Organisations of Australia, expressed the crucial role of cyber literacy and motivation in protecting small businesses online. “For small businesses to thrive in an online ecosystem vulnerable to cyber threats, increasing employees’ cyber literacy and motivations to act in a cyber-safe manner is essential. This critical investment from the Albanese government will help give small businesses the skills they need to meet the cyber burden.

For more information on the program see cyberwardens.com.au.

Keep up to date with our stories on LinkedInTwitterFacebook and Instagram.

What do you think?

    Be the first to comment

Add a new comment

Yajush Gupta

Yajush Gupta

Yajush is a journalist at Dynamic Business. He previously worked with Reuters as a business correspondent and holds a postgrad degree in print journalism.

View all posts