Are businesses ready to be outed for paying ransoms to cybercrooks?
No Australian organisation has ever had to publicly discuss – let alone defend – making payments to hackers, but new mandatory cyber reporting reforms will change this.
The new cyber reforms passed by the federal parliament last week represent a landmark moment in government efforts to curb the proliferation of cybercrime in Australia.
New measures include improved security standards on smart devices, establishing a Cyber Incident Review Board, and requiring more organisations to report ransom payments.
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Alastair MacGibbon is chief strategy officer at CyberCX and was national cybersecurity adviser and head of the Australian Cyber Security Centre.
Jordan Newnham is Executive Director Corporate Affairs, Brand and Policy, at CyberCX
