Ransomware crackdown in new cyber security strategy

Companies will soon be forced to report cyber ransom demands.

This is part of the country’s first no-fault mandatory reporting system.

The new requirements are a centrepiece of the Albanese government’s new cyber security strategy, which is set to be released next week.

Another key element of the strategy will require major telcos to implement new or updated cyber risk management programs.

Failure to comply could lead to hundreds of thousands of dollars in penalties.