Not lengthy after, the Australian Federal authorities launched a session paper masking a number of subjects together with ransomware reporting obligations.
“The invoice’s second measure will assist construct our understanding of the ransomware menace that continues to trigger large-scale hurt to the Australian financial system and nationwide security,” House Affairs and Cyber Safety Minister Tony Burke instructed parliament when introducing the invoice. “In 2023 it was estimated that Australian companies who paid in response to ransomware assaults paid a median of $9.27 million. This concern must be tackled. Obligatory reporting of ransomware funds will crystalise our image of how a lot is being extorted from companies through ransomware assaults, whom these funds are being made to and the way.”
“With these well timed and complete insights, the federal government will probably be higher capable of develop the assets, instruments and helps which can be most helpful to business and assist break the ransomware enterprise mannequin.”
