Australia Tightens Cyber Security: A New Frontier in Digital Protection

Parliament has passed Australia's inaugural cyber security legislation, a crucial part of the 2023-2030 Australian Cyber Security Strategy. From now on, businesses compensating ransomware hackers are obligated to inform the government. There's also a provision for the National Cyber Security Coordinator and the Australian Signals Directorate (ASD) to gain incident-related information from victims. Previously, agencies were kept in the dark by the private sector during cyber-attacks. 

The new regulations also mandate safety standards for smart devices. Cyber Security Minister Tony Burke asserts that the law is a fundamental component in their pursuit of shielding Australians from cyber threats. The Cyber Security Bill is part of a comprehensive legislative package including amendments to both the Security of Critical Infrastructure Bill and the Intelligence Services Bill. 

The groundwork for parts of the bill was laid in 2021 as ransomware attacks surged. The government highlighted the potential need for a comprehensive Cyber Security Act in early 2021. 

Consequently, Home Affairs conducted several consultations leading to an exposure draft circulated to the industry. Altogether, 60 submissions were made to the parliamentary joint committee on security and intelligence. Ultimately, the revised Intelligence Services Act will enable improved information sharing during cyber incidents.

- CyberBeat