Tackling Australia's Ransomware Surge and Critical Cybersecurity Skills Shortage with Hoang Nguyen

Hoang Nguyen discusses Australia's cybersecurity challenges, skills shortage, and the impact of government regulations. Essential insights for IT and business leaders

As cyber threats in Australia escalate in both frequency and sophistication, the nation's economic and national security now hinges on a strategic fusion of advanced technology, stringent government regulation, and a rapidly evolving skilled workforce.

This case requires insights from those on the front lines. Today, we explore this complex landscape with Hoang Nguyen, Co-Founder and Director of CyberNIQ, and a cybersecurity professional whose experience offers a critical window into the challenges organisations face, the solutions taking shape, and the future of digital defence in Australia.

Interview with Hoang Nguyen

With ransomware attacks disrupting critical sectors and state-sponsored activity on the rise, what would you say is the most underestimated cyber threat facing Australian organisations today?

Cyber threats in Australia are rising in both frequency and sophistication. According to the Australian Signals Directorate (ASD), the Cyber Security Hotline received over 36,700 calls in FY 2023–24, a 12% increase on the previous year. In the same period, the ASD responded to more than 1,100 significant incidents. Meanwhile, the Australian Institute of Criminology reported 87,438 cybercrime reports in 2023–24, showing the scale of the challenge.

The most pressing challenges include:

• Ransomware disrupting healthcare, education, and critical infrastructure.

• Supply chain compromises, where attackers target smaller vendors to infiltrate larger enterprises.

• Exploitation of new vulnerabilities within hours of disclosure, making rapid patching essential.

• IoT and connected device risks, particularly in healthcare and utilities.

• State-sponsored activity, targeting sensitive sectors and testing national resilience.

The cybersecurity market is booming. Beyond the obvious sectors like finance and government, which industry do you believe presents the most complex and growing challenge for security professionals?

Australia’s cybersecurity market is expanding rapidly. Industry reports estimate the sector was worth around AUD 9.2 billion in 2024 and will continue to grow at double-digit rates through the 2030s. Demand is strongest in:

• Financial services (BFSI): Defending against fraud, data theft, and ransomware.

• Healthcare: Protecting electronic health records and securing tele-health platforms.

• Energy & utilities: Improving resilience against state-sponsored disruption.

• Government & critical infrastructure: Meeting strict compliance and reporting obligations.

• IT, telecoms, and retail: Securing cloud-first and data-driven operations.

• Mining industry: With automation, IoT devices, and connected operations across remote sites, mining companies face growing risks from both cybercriminals and state-backed attackers.

How are regulations like the SOCI Act and the Essential Eight maturity model fundamentally changing the conversation between cybersecurity teams and executive boards?

The Australian Government is reshaping the cybersecurity landscape through regulation and investment. Key developments include:

• Security of Critical Infrastructure Act (SOCI): Expanded to cover more sectors, requiring risk management programs and incident reporting.

• Cyber Security Strategy 2023–2030: Backed by a AUD 15–20 billion investment over the decade to strengthen national cyber capabilities.

• Privacy Act reforms: Proposing stronger penalties and clearer rules on data handling and AI-driven decision-making.

• Essential Eight (E8): Currently mandatory for federal government agencies, the E8 maturity model is expected to become a benchmark for the private sector in the future — raising the baseline of security controls across industries.

Together, these measures push organisations to embed cyber governance at the board level, improve transp

Australia faces a shortage of 30,000 cyber professionals. In your view, what is the single most effective strategy for building a pipeline of skilled talent, and where are the greatest opportunities for newcomers?

Australia faces a persistent cyber workforce gap of around 30,000 specialists. While the sector employs about 134,000 professionals, demand continues to outpace supply, especially in incident response, forensics, and threat intelligence.

To address this, key strategies include:

• Expanding partnerships between government, academia, and industry for coordinated training.

• Offering apprenticeships and internships, particularly in SMEs, to build real-world skills.

• Upskilling IT staff with certifications and hands-on security rotations.

• Deploying AI and automation to relieve pressure on small security teams and reduce analyst burnout.

As companies accelerate their move to the cloud, what is the most common and dangerous security misstep you see, and what foundational principle (like Zero Trust) is non-negotiable to get right?

Cloud adoption and digital transformation are shifting the risk profile of Australian organisations.

On the risk side:

• Cloud misconfigurations and shadow IT are major causes of breaches.

• Remote and hybrid workforces expand the attack surface, making phishing and credential theft ongoing threats.

• Rapid deployments sometimes leave security gaps.

• On the solutions side:

• Zero Trust frameworks and stronger identity management are becoming standard.

• Cloud Security Posture Management (CSPM) tools help detect misconfigurations in real time.

• Extended Detection and Response (XDR) improve visibility across networks, endpoints, and cloud.

• Automation and AI are enabling faster response to threats.

  
  

In short, cloud adoption has made identity, visibility, and automation the foundation of modern cybersecurity in Australia.

Looking beyond immediate threats, what emerging technology (be it AI, quantum computing, or something else) do you believe will have the most profound impact on cybersecurity strategy in the next five years?

Australia’s cybersecurity sector is poised for robust growth, with several areas leading the way:

• AI-driven security for faster anomaly detection and automated incident response.

• Threat intelligence sharing, particularly through ACSC programs, enabling more proactive defence.

• Managed Detection & Response (MDR) and outsourced SOCs, giving 24/7 protection to organisations without large in-house teams.

• Zero Trust and SASE architectures, securing users and devices in a borderless network.

• Quantum-resistant cryptography and stronger supply chain security as emerging long-term priorities.

The federal government’s sustained multi-billion-dollar investment through 2034 underscores Australia’s ambition to become a global cybersecurity leader.