Australia Is Spending $178 Million to Beef Up Cyber Security

The Australian government announced on Thursday that they would be allotting $178 million to beef up cyber security. This was after admitting that the country's weather bureau had been compromised by cyber intrusion.

Prime Minister Malcolm Turnbull from Australia confirmed the rumors that some government agencies of the country had been hacked. However, he refused to answer when asked if he believes that China is behind the hacking.

The prime minister clarified that the funding, which will increase to $400 million Australian dollars, is to strengthen cyber security, finance regular meetings between government, researchers and businesses for strategizing on the concern that may arise.

Previous cyber attacks have also been encountered by the country when the Australian Broadcasting Corporation system was hacked in December. Australia's new intelligence agency headquarters blueprint was stolen in 2013. Moreover, there has been suspected cyber intrusion on the computers of the prime minister, foreign minister and defense minister two years ago, according to Security Week.

Hacking attacks cause Australia to lose $1 Billion Australian - equivalent to $780 million US dollars - a year.

"There's no global institution or infrastructure more important to the future prosperity and freedom of our global community than the Internet itself," said Turnbull in a speech in Sydney.

The prime minister plans to move the Australian Signals Directorate, Cyber Security Office of Intelligence Agency to a place with easier access to businesses. They found that right outside the Australian Security Intelligence Organisation is a perfect place.

"Given the speed with which these things have moved, we are overdue, and strategy goes some way to making good progress," said Phil Vasic, managing director of FireEye Inc, a U.S.-listed cybersecurity firm, as per Reuters.

On the other hand, the Australian government admitted to possessing offensive hacking capabilities clarifying that its existence "adds to [Australia's] credibility as it promote norms of good behaviour on the international stage and, importantly, familiarity with offensive measures enhances [its] defensive capabilities as well." They did not, however, confirm if it has ever been used to spy on anyone or any country, as reported by Engadget.

Here is a video offering a glimpse into Australia's Cyber Security.