The Federal Government has heeded calls for a national ransomware strategy to combat the billion-dollar scourge menacing Australian businesses and threatening jobs and investment.
In June this year, Labor introduced the Ransomware Payments Bill 2021 to Parliament.
It follows an onslaught of attacks against Australian organisations this year, including multiple health and hospital networks, the Nine network, and JBS Meats, the nation’s biggest meat supplier.
The Australian Cyber Security Centre has been warning for 12 months that ransomware is the highest cyber threat facing businesses, with a 15% increase in reported attacks over the last year.
When the national ransomware strategy will be delivered is not yet known, with only a few Parliamentary sitting weeks left in the year and more consultation on the proposed ransom payment reporting scheme to be done.
