Rising Cybercrime in Australia: New Measures for Ransomware Transparency
1 Every 6 Minutes: Cyber Attacks in Australia Rise 23 Percent in 2024 🔗
Australia is facing a significant increase in cybercrime, with a 23% rise in cases in 2024, leading to a cyberattack every six minutes. The Australian Signals Directorate (ASD) reports a need for improved industry engagement and faster incident reporting to combat these threats effectively. New legislation aims to enhance transparency around ransomware payments, proposing a $3 million threshold for mandatory reporting. Efforts are underway to improve collaboration and education within the industry, including a centralized reporting portal and outreach programs to build trust among businesses. Despite these measures, challenges remain, particularly regarding regulatory concerns that hinder information sharing.
What is the current rate of cyberattacks in Australia?
A cyberattack occurs every six minutes, with a 23% rise in cybercrime cases reported in 2024.
What measures are being proposed to improve ransomware payment reporting?
A $3 million threshold for mandatory reporting of ransomware payments is being proposed to increase transparency and mitigate risks.
How is the Australian government enhancing cybersecurity education?
The ASD is promoting best practices through the Cyber Security Partnership Program, which included over 450 events last year to educate various sectors on cybersecurity measures.