The federal government should accelerate and increase its investment in cybersecurity, University of Newcastle Professor Vijay Varadharajan says.
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Professor Varadharajan, a cybersecurity expert, likened an ill-equipped cybersecurity sector to "leaving the door of your house open".
Prime Minister Scott Morrison said last week that the federal government would "make the nation's largest ever investment in cybersecurity, with $1.35 billion over the next decade".
"It's a good start, but I think we should do more," Professor Varadharajan said.
He said the government's investment - which equates to about $130 million a year - should be $750 million to $800 million a year.
The Prime Minister warned that Australian governments, businesses and political organisations were increasingly facing cyber attacks from a "sophisticated state-based cyber-actor".
While he didn't name the country, security experts believe China is responsible.
Professor Varadharajan said protecting assets was crucial in "a highly competitive world" in which Australia wants industry and jobs to grow.
"If our infrastructure is being attacked, we need to protect it for our survival."
Australian companies require a competitive edge in protecting intellectual property and negotiating contracts. They need to protect against commercial espionage, organised crime and malicious cyber attacks
Professor Varadharajan says the economy's critical infrastructure is dependent on the internet and vulnerable to cyber attack.
This includes the utility sector (such as electricity, water and gas), transport (such as airports), financial and healthcare sectors, along with cloud data services and telecommunications.
"To bring down a national economy, countries don't have to send troops - they can bring down utility infrastructure," he said.
"We spend a lot on submarines and missiles and rightly so. At the same time, cyber is increasingly the name of the game. Cyber is where the battles will be fought in future."
Cybersecurity is part of a geopolitical game. Opponents are always looking for ways to exploit weaknesses.
"You design something to prevent attacks and they find holes in them. You've got to keep improving year by year and continue to increase cyber capability," he said.
"Attacks will still happen. The aim is to minimise the number of attacks."
As well as government agencies, cybersecurity talent must improve across sectors such as telecommunication, health, finance and industrial control systems.
"The key way to do this is through education."
