Home Affairs Minister Peter Dutton will release a consultation paper today to update Australia's cyber security strategy as hacking threats increase from foreign states with key sectors under threat from hackers.
Mr Dutton says the government and private sector should co-operate better to fend off cyber threats, which cost businesses $29 billion per year.
"As quickly as we advance, threats evolve and those who wish to do us harm adapt and change," he said.
The issue increased in June after the Australian National University revealed hackers accessed nearly 20 years of personal data from staff and students.