SOCI – Cyber Law Watch

Proposed cyber ransom bans predicted to cause “catastrophic damage”

Apr 27 2023

By Cameron Abbott, Rob Pulham, Stephanie Mayhew and Dadar Ahmadi-Pirshahid

We saw last year how low hackers are willing to stoop to shame companies into paying ransoms, including leaking sensitive information aimed at embarrassing individuals affected by data breaches. As a result we also saw prominent calls for ransom payments to be ‘banned’, to reduce the financial incentives for hackers to target Australians’ personal information.

We are now hearing the flipside to that argument, with AGL Energy warning that a government-imposed ban on companies paying cyber ransoms to hackers could cause “catastrophic damage”.

Mar 05 2023

By Cameron Abbott, Rob Pulham and Dadar Ahmadi-Pirshahid

Not content with merely implementing broad-scale privacy reform, the Government has announced a new position, the Coordinator for Cyber Security to be added to the Department of Home Affairs as a step towards their aim of “making Australia the most cyber secure nation by 2030“. This would seem to be a rather aspirational target!

The Coordinator will be supported by a National Office for Cyber Security, and their role will be to oversee steps to prevent future cyber security incidents and to help manage cyber incidents as they occur.

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Proposed cyber ransom bans predicted to cause “catastrophic damage”

Australia to be the most cyber secure nation?