The Information security and industry experts reacted below on the news that the Australian government looking at outlawing ransomware payments to hackers.
ISBuzz Team
It has been reported that it could soon be illegal for companies that fall victim to data breaches to pay ransoms to the hackers. The home affairs minister, Clare O’Neil, confirmed the government was examining whether new laws were needed to stop ransom payments in the wake of the Medibank and Optus data breaches. O’Neil said while short-term successes were needed in cybersecurity reform after the mass hacks, and other long-term outcomes were being considered, including banning ransom payments.
Following the news that: UK Shoppers Lost £15m+ to Scammers Last Winter UK Shoppers Lost £15m+ to Scammers Last Winter – Infosecurity Magazine (infosecurity-magazine.com)
Following on the latest Medibank data leaks and backing their decision not to pay the ransom Australian ABC News reported that Cyber Security Minister Clare O’Neil said the government was considering a law that would make it illegal to pay such ransoms. “The idea that we’re going to trust these people to delete data that they have taken off and may have copied a million times is just frankly silly,” she told Insiders on Sunday. O’Neil also announced the formation of a new Australian task force combing the expertise of the Australian Federal Police (AFP)) and the country’s cyber spy agency, the…
Cyber security experts reacted below on the recent Black Basta ransomware attack against food retail giant Sobeys.
As reported by the Mail on Sunday, Britain’s biggest banks have bolstered their defences against a Russian cyber attack. The plan will mean close co-operation between lenders, so that if hackers took down one bank’s website, its customers would still be able to access their online accounts via another. It involves the use of open banking technology, which allows banks to share certain agreed details of their customers. A top technology source at one high street bank told The Mail on Sunday that there was a fear Russia will retaliate against Western sanctions by cyber attacks on banks or infrastructure.
This International Fraud Awareness week businesses need to open their eyes and up their defenses in the battle against cybercrime.
The field of cybersecurity is rapidly changing. Here we spoke with a number of Cybersecurity experts and Industry leaders to find out the most critical cybersecurity trends to watch in 2023. Here are the top cybersecurity predictions for 2023 from the experts: Cyber resilience will come from people—not technology I believe that 2023 will be the year when enterprises recognize that they are only as secure and resilient as their people—not their technologies. Only by supporting initiatives that prioritize well-being, learning and development and regular crisis exercising can organizations better prepare for the future. Bec McKeown, Director of Human Science…
Hackers started leaking health data after Medibank, Australia’s largest health insurer, refuses to pay ransom demand. The REvil ransomware gang began posting stolen records, including customers’ names, birth dates, passport numbers, and information on medical claims. The attack began after the stolen credentials of someone who had high-level access to the organization were sold on a Russian-language cybercrime forum.
In a poll of 2,100 C-Level executives in large organizations, responsible for supply chain and cyber risk management, security firm BlueVoyant is reporting that 98% of the organizations suffered a supply chain breach, up from 97% last year. Industries surveyed included: business services, financial services, healthcare and pharmaceutical, manufacturing, utilities and energy, and defense. “The survey shows that supply chain cybersecurity risk has not decreased and, in fact, more enterprises than ever have reported being negatively impacted by a cybersecurity disturbance in their supply chain,” said Adam Bixler, BlueVoyant’s global head of supply chain defense. Key findings: