The Australian Government takes its next step towards becoming a world cyber security leader by 2030
In brief
In 2023, the Australian Government released the 2023-2030 Australian Cyber Security Strategy.
9 October 2024 marked the latest in a series of legislative reforms in pursuit of that strategy, as the Cyber Security Legislative Package 2024 (Package) was introduced to Parliament. The Package has been referred to the Parliamentary Joint Committee on Intelligence and Security for inquiry and report.
The Package contains the following:
- Cyber Security Bill 2024 (“Cyber Security Bill“);
- Intelligence Services and Other Legislation Amendment (Cyber Security) Bill 2024 (“Intelligence Services Amendment Bill“); and
- Security of Critical Infrastructure and Other Legislation Amendment (Enhanced Response and Prevention) Bill 2024 (“SOCI Amendment Bill“).
The Package is targeted at addressing legislative gaps to bring Australia in line with global best practice and fostering collaboration and information-sharing between industry and government. This includes establishing a mandatory reporting requirement for ransomware and cyber extortion payments. Businesses should closely watch the progress of the Package.
Click here to access the full alert.