Australia has become the first country to require ransomware victims from certain sectors to report extortion payments to the government, aiming to improve threat visibility. This move is part of a broader international effort to combat ransomware and address underreporting issues. #AustralianSignalsDirectorate #RansomwarePayments
Keypoints
- Australia mandates reporting of extortion payments related to ransomware attacks for large organizations.
- Reports must be submitted to the Australian Signals Directorate within 72 hours.
- Failure to report can result in significant civil penalties under Australian law.
- The law aims to enhance government visibility and understanding of ransomware threats.
- Global efforts, including the UK, are exploring bans on ransom payments to deter cybercriminal activities.
Read More: https://therecord.media/australia-ransomware-victims-must-report-payments