Australia

Report: Foreign Espionage Cost Australia AU$12.5B in Fiscal Year 2023-24

AUG 1 2025·Updated AUG 2 2025

Story

Above: The portrait of ASIO Director-General of Security Mike Burgess was taken in Canberra on Feb. 28, 2024. Image credit: Alex Ellinghausen/Sydney Morning Herald/Getty Images

The Facts

ASIO Director-General Mike Burgess revealed on Thursday that foreign espionage cost Australia an estimated AU$12.5 billion ($8.1 billion) in the 2023-2024 fiscal year, according to a study conducted with the Australian Institute of Criminology.
ABC Australia
guardian
The domestic intelligence agency disrupted 24 major espionage and foreign interference operations in the past three years, which exceeds the total number from the previous eight years combined.
ABC Australia
Defence Connect
Burgess said foreign intelligence services are showing a "very unhealthy interest" in nuclear sharing arrangements, with spies targeting defense employees through cyber espionage, in-person approaches, and surveillance devices.
guardian
The Conversation
Approximately 7,000 Australians reference their defense sector work on professional networking sites, with close to 400 explicitly stating they work on AUKUS projects, making them targets for foreign operatives.
ABC Australia
The Register
China, Russia, and Iran were accused of being the primary espionage threats, with Russia having undeclared intelligence officers expelled from Australia in 2022 following a lengthy ASIO investigation.
The Conversation
SBS News
Foreign cyber spies stole nearly $2 billion in trade secrets and intellectual property from Australian companies during the 2023-24 financial year, including hacking major exporters' networks.
theaustralian.com
The Conversation

Sources Split

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The Spin

Pro-government narrative

While espionage costs are concerning, ASIO's successful disruption of 24 major operations demonstrates that existing security measures are working effectively. The prevented costs from counter-espionage activities have saved tens of billions of dollars, showing Australia's intelligence community is successfully protecting national interests despite the challenges.

Aspistrategist

The Conversation

Opposition narrative

The $12.5 billion espionage cost shows Australia faces unprecedented foreign intelligence threats that demand immediate action. Defense workers carelessly advertising security clearances on LinkedIn are practically handing sensitive information to hostile nations. These aren't harmless networking attempts — they're sophisticated operations targeting the nation's most critical military secrets and economic advantages.