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Australian regulators propose cybersecurity legislation that will have a significant impact on Australian Business. The countries cyber minister Tony Burke proposed new cyber legislation in October 2024 introducing mandatory incident reporting, minimum cyber standards for smart devices and a incident review board.
https://lnkd.in/eBtf7St5
Australian cyber regulation will affect covered companies, requiring mandatory 72 hours reporting of ransomware payments, and those organisations managing data related to critical infrastructure to focus on assessing internal security and incident response plans. Alongside these changes the ASIC recently announced that it was taking action against directors of companies that did not demonstrate their management of cybersecurity.
This is a further example of a nation state taking an active stance against companies and their management of cybersecurity risk.
@Thaddeus Dziekanowski Brian D. McCarthy
Veritas GRC
#cybersecurity #cyberriskmanagement #cyberregulation
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