Australia introduces the Ransomware Action Plan

Measures take a decisive stance on ransomware payments: Minister of Interior

Last year, after a surge in cyberattacks on critical Australian infrastructure, including prominent businesses and state government agencies, the country decided to introduce stricter penalties for cybercriminals in dubbing. “Ransomware Action Plan”..

These new set of measures will allow international cybercriminals to target Australian institutions by committing computer crimes, discouraging victims from paying ransom for cyberattacks, and controlling the flow of money. The purpose is to criminalize the sale of stolen data and the purchase of malware with the aim of stopping. In the world of ransomware.

“”Ransomware action plans take a decisive stance Australian government does not allow ransom payments to cybercriminalsInterior Minister Karen Andrews Said..

“”Ransom payments, small or large, stimulate the ransomware business model and put other Australians at risk.“She added.

Operation Orcus, a task force of several agencies allegedly providing recommendations leading to action plans to address the rise in ransomware attacks, was established by the Australian Government earlier this year.

Last year, Australian companies and institutions such as Uniting Care Queensland, brewing companies Lion, Nine Entertainment and NSW Labor Party were attacked primarily by deploying malware such as REvil and DarkSide from Russian cybercriminals. They encrypted or stole sensitive information during these attacks and demanded a ransom in cryptocurrencies.

As part of these measures, the Ransomware Action Plan empowers authorities to seize or freeze cryptographic transactions related to cybercrime, regardless of country of origin.

The plan also aims to work with the government to modernize current legislation to provide authorities with tools to track and recover funds stolen by cybercriminals.

While these measures are under development, the Australian Parliament is already considering the Security Act Amendment (Important Infrastructure) Bill 2020. Security law amendments attempt to enhance the government’s ability to take action against cybercriminals and require victims to report ransomware attacks.