Australia's Evolution Mining Hit by Latest Cyber Attack

Australian gold miner Evolution Mining disclosed on Monday that it had detected a cyber attack last week, adding to a troubling trend of similar incidents impacting domestic firms. The company stated that it has contained the security breach but provided no further details on the attack's nature or scope.

This latest incident highlights ongoing vulnerabilities in Australia’s cyber security landscape. Since 2022, Australian firms have increasingly fallen victim to cyber attacks, bringing attention to the country's understaffed and under-resourced cyber security sector. Experts have pointed out that the industry seems ill-equipped to handle the growing frequency and sophistication of such threats.

In response to these growing cyber threats, Australia has been strengthening its cyber defences. This includes increased funding for law enforcement and mandatory reporting of cyber incidents, part of a broader security overhaul aimed at improving the nation’s cyber resilience.

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Evolution Mining has reported the breach to the Australian Cyber Security Centre (ACSC). The company indicated that the incident is not expected to significantly impact its operations. However, the ACSC noted that Evolution Mining had not provided extensive information about the breach.

The rise in cyber crime reports in Australia is alarming. The ACSC reported a nearly 25% increase in cyber crime incidents in the year leading up to June 2023, with the average cost to victims rising by 14%. The report also highlighted that recent defence agreements with the U.S. and Britain have made Australia a more prominent target for cyber attacks.

The issue of cyber security has been prominent in recent years, with notable breaches affecting several major entities. Optus, Australia's second-largest mobile operator, was among the first to report a significant data breach. Other affected organizations include retail giant Woolworths, health insurer Medibank, and Shell's Australian operations.

As Australian firms grapple with the increasing threat of cyber crime, the need for robust cyber security measures and enhanced industry capabilities remains critical

Aug. 12, 2024 4:32 p.m. 607

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