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Strengthening Cyber Security: A Fundamental Priority for Australia
Strengthening Cyber Security: A Fundamental Priority for Australia
The discussion paper poses several questions, including whether the government should prohibit the payment of ransoms and extortion demands to cyber criminals by victims of cybercrime and/or insurers, and what the impact of such a prohibition would be on companies, victims of cybercrime, and insurers.
The discussion paper also proposes the establishment of a National Office for Cyber Security within the Department of Home Affairs, which would have a dedicated coordinator to ensure a central approach to the government's cyber security responsibilities.
The Minister for Home Affairs and Cyber Security, Clare O’Neil, emphasizes that the government must take a leading role in ensuring everyone is contributing to Australia's cyber security, stating, "We cannot sleepwalk into our cyber future. I want Australia to be the world’s most cyber-secure country by 2030."
The roundtable discussion also focused on incentivizing best practice cyber behaviors, raising national cyber awareness, and growing Australia's cyber security sector to shape a new strategy “in the face of rapidly evolving threats."
Albanese stresses that cybersecurity is crucial and essential to the way every Australian lives, and strengthening it is a fundamental priority. "This is a fast-moving, rapidly-evolving threat and for too many years, Australia has been off the pace. Our government is determined to change that," he said.
The Expert Advisory Board, which includes former Air Force Chief Mel Hupfeld, former Axa Asia Pacific Holdings and Telstra CEO Andrew Penn, and CEO of the Cyber Security Cooperative Research Centre Rachael Falk, will advise the government on the development of the national cyber strategy.
Published:Tuesday, 7th Mar 2023
Source: Paige Estritori
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An insurance carrier may reserve the "right of subrogation" in the event of a loss. This means that the company may choose to take action to recover the amount of a claim paid to a covered insured if the loss was caused by a third party.