While existing regulators have most AI risks under control, our new report shows that national-security risks are falling through the gaps. —Loss of control: AI labs losing control of an AI model through self-replication, recursive self-improvement or the bypassing of containment measures. Australia lacks its own national risk assessment, making comparisons to other national security risks difficult. All AI risks assessed exceed traditional national-security risks—such terrorist attacks on public transport or fuel security concerns. Currently, the Security of Critical Infrastructure Act only covers AI infrastructure if it provides services to government or other critical infrastructure.