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Espionage Cost Australia $12.5 Billion in 2023-24, ASIO Boss Mike Burgess Says

AUSTRALIA, JUL 31 – ASIO revealed foreign espionage caused $12.5 billion in economic damage in 2024, targeting sectors like defense, science, and critical minerals while stopping 24 operations in three years.

  • During his address at the Hawke Centre in Adelaide on Thursday night, Mike Burgess revealed espionage cost Australia at least $12.5 billion in 2023-2024.
  • Recent analysis found ASIO stopped 24 major espionage and foreign interference operations in the last three years, driven by what Burgess called a 'new iteration of great power competition' and an 'insatiable appetite for inside information'.
  • More than 35,000 Australians indicated they had access to classified or private information on a professional networking site, including about 7,000 in defence and critical technologies, Burgess said.
  • Burgess warned that Australians boasting about sensitive access are painting themselves as targets for foreign spying operations, but most resist, report or ignore approaches.
  • Many countries, beyond China, Russia and Iran, are targeting sensitive or unclassified information for strategic or tactical advantage, Burgess said.
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Lax Aussies making themselves easy spy targets: ASIO

Australia's intelligence chief has revealed new details about a series of foreign espionage operations in a major speech.

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sydneysun.com broke the news in on Thursday, July 31, 2025.
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