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New AIC research on the cost of espionage

Link to: The cost of espionage

Based on research conducted in partnership with the Australian Security Intelligence Organisation, the Australian Institute of Criminology has released a Special Report that estimates the costs of espionage impacting Australia.

In 2023–24, espionage cost Australia at least $12.5 billion. This includes the direct costs of the consequences of known or probable espionage activity – primarily losses due to state or state-sponsored cyber-attacks, insider threats and intellectual property theft – as well as the public and private sector response, remediation and mitigation costs.
There are also tens of billions in additional costs that Australia may have prevented by countering potential espionage – costs that may be incurred in future if appropriate action is not taken to address the threat from those who seek to harm Australia’s national interests.
These numbers are conservative and an underestimate of the true cost, given the challenges in identifying and measuring espionage activity and its consequences.

While this report highlights the importance of taking action to prevent espionage to protect Australia’s national interests, it also draws attention to the need for further work to help us better understand the impact that espionage has on government, businesses, universities and the wider community.

Additional information is also available from the ASIO website: https://www.asio.gov.au/coe