The Australian Government has introduced new legislation aimed at strengthening the nation’s cyber security. The proposed law focuses on combating ransomware attacks, with victims required to report payments, allowing the government to track criminal activities. It also enhances the roles of national cyber agencies and requires critical infrastructure sectors to strengthen data security measures.
The act introduces new cyber security standards for smart devices and empowers the Cyber Incident Review Board to conduct investigations after major attacks. While the legislation boosts national security, businesses may face compliance challenges and increased costs due to new obligations.
