CI-ISAC Secures $6.4 Million Government Grant to Boost Cyber Resilience Efforts

CI-ISAC Australia, a leading cyber intelligence organization dedicated to enhancing the cybersecurity of critical infrastructure, has been awarded a substantial $6.4 million grant from the Australian Government. This funding is aimed at establishing a dedicated information-sharing and analysis center (ISAC) specifically for the healthcare sector, in response to the increasing number of cyber-attacks on health institutions.

Strengthening Cyber Resilience in Healthcare

The initiative comes at a crucial time as the healthcare industry faces a surge in cyber threats. In 2023, it was reported that the global healthcare sector experienced the most costly data breaches for the 13th consecutive year, with an average breach costing approximately AUD $10.93 million. This figure is nearly double that of the financial sector, which averaged $5.9 million per breach.

Healthcare Sector Landscape in Australia

Australia’s healthcare industry is extensive, comprising:

• Approximately 750 public hospitals
• About 650 private hospitals
• Around 6,500 general practitioner clinics
• Numerous health insurers and third-party vendors

Introduction of the Health Cyber Sharing Network (HCSN)

To combat these threats, CI-ISAC has launched the Health Cyber Sharing Network (HCSN). This network is designed to:

• Facilitate collaboration among healthcare organizations
• Reduce information silos
• Provide a secure environment for sharing critical cyber threat intelligence

With the HCSN, organizations can more effectively detect and mitigate cyber threats. CI-ISAC operates similarly to a cyber “neighborhood watch,” allowing healthcare providers to share real-time insights and benefit from intelligence gathered across various critical infrastructure sectors.

Expert Insights on Cybersecurity in Healthcare

David Sandell, CEO of CI-ISAC Australia, emphasized the necessity of safeguarding sensitive medical and financial data, particularly given the rise in high-profile breaches within the sector. He stated, “The health and medical sector holds a large amount of incredibly private and personal medical and financial information. We have already seen several high-profile data breaches in the health sector, and the new network can help members reduce their cyber risks. Cyberattacks can also greatly disrupt important health services, and this industry cannot afford interruptions with patients’ wellbeing at stake.”

For more information on how to protect your organization from cyber threats, visit Cyber.gov.au or explore our internal resources on cybersecurity best practices.