Optus creates $10 million cybersecurity hub

Optus has teamed up with Sydney’s Macquarie University to establish the Cyber Security Hub to support the public and private sector.

The $10 million hub will provide research from university academics along with degree programs, executive and business short courses and consultancy services for businesses and government agencies.

Optus said the hub would focus on three academic areas: computing and IT, business and economics and security studies and criminology.

Optus Business managing director John Paitaridis said that cybersecurity is now a top priority for business executives and boards.

“While cyber-attacks are increasing in frequency and sophistication, most organisations lack the right expertise and skills across their business to identify and manage these attacks.

“As organisations adopt more online and digital channels, they also need to have a fully integrated approach to cyber security involving all staff training, management buy-in, effective technology solutions and knowledge of today’s cyber threats.

“The Optus Macquarie University Cyber Security Hub addresses all these areas, providing businesses and government agencies with a unique and unparalleled cyber offering to help them navigate a complex landscape. We are committed to empowering every person, business and organisation to confidently operate in the digital world, and this partnership is a significant step in helping us deliver on that promise," added Paitaridis.

Optus’ parent company Singtel acquired cybersecurity vendor Trustwave in April 2015 for US$810 million – which operates as a separate business unit.

Singtel also partnered with another cybersecurity and malware protection vendor FireEye in 2014 to invest US$50 million in security operations centres in the Asia-Pacific region over the next five years.

Last month, the Australian government revealed its national cybersecurity strategy, pledging $231 million to fostering better cybersecurity practices among businesses and government.

Prime Minister Malcolm Turnbull estimated that cybercrime costs Australia over $1 billion in direct costs per year.