US and Australia agree to strengthen cyber security capabilities
The United States and Australia signed an agreement yesterday, July 24, allowing the two allies to conduct research and development to improve their ability to coordinate in cyberspace.
The move comes amid a spate of cyber attacks that have stolen sensitive information from military networks.
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For his part, US Defense Secretary James Mattis said the two countries had signed a memorandum of understanding (MoU) to "enhance cybersecurity cooperation."
US Secretary of State Mike Pompeo, US Secretary of Defense James Mattis, and Australian Foreign Minister Julie Bishop and Defense Minister Marise Payne held bilateral diplomatic and defense consultations at the Hoover Institution at Stanford University from July 23-24, to discuss trade, the security situation in the South China Sea, North Korea's denuclearization, and terrorism in the Middle East.
According to research by cybersecurity company McAfee and the Center for Strategic and International Studies (CSIS), the damage caused by cyber attacks each year has reached 600 billion USD due to the increasingly sophisticated capabilities of hackers and the proliferation of criminal and virtual currency markets.
In the US alone, damage caused by cyber attacks amounts to about 57-109 billion USD./.
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