Cybersecurity has become a major aspect of the interconnected digital system in this new digital age. The Australian government has recognised the need for adequate cyber security and is developing a new national strategy, which considers the varieties of digital infrastructure both in private and public sectors.
Australia’s approach to cybersecurity
Based on its recent failures, the Australian government must take a careful approach to handling regulation. As it may be inclined to push said regulations, it needs more resources, budgets, skills, and resources to continue. As such, the Australian government must implement a collective approach by joining direct government action with multiple measures that ensure stakeholders also act to improve security. Based on recent statements and announcements, said regulations likely feature specific mandated measures supported by stiff financial penalties and recent Privacy Act changes as guides.
Regulation can be a useful tool in modifying incentives and behaviour changes. But on the basis that establishing regulations to improve cybersecurity pragmatically is a difficult path based on certain factors. It is best to assume that validations and other effects must be considered to ensure significant effects occur without being affected by unexpected events from the private sector.
Possible regulations to be implemented
Based on previous reports, it can be stated that Australia’s cybersecurity regulations are in a state that still lacks coherence which causes overlaps. Federal initiatives such as eSafety and Privacy Act review further adds to the complications. If ever new cybersecurity acts are implemented, they should possess simplistic rules and cost-effective compliance, which will boost the effectiveness of such regulations. New regulations must also have clear objectives to address future and present challenges and the impact and reasons for regulation.
There are further options that can be implemented in the regulations. First, although compulsion can be applied, it must be careful because it is connected to minimal effort it can be used to establish basic digital standards and encourages organisational action. Second, regulations must have measures that address specific metrics and benefits and adopt measures to the evolving technological landscape. Lastly, as technology evolves, an ongoing, iterative approach is necessary for regulations to be constantly relevant and address future risks.
In conclusion, over time, the importance of cybersecurity has become vital in the developing digital landscape. The Australian government is discussing implementing cybersecurity regulations to address such an issue. But based on previous statements, the current regulations seem complicated and are projected to be ineffective. As such, it is suggested that these regulations must possess measures that create compulsion, multiple measures that address specific metrics and benefits, and an iterative approach to adapt to future changes.