00:00It'll take more than shovels at a new data centre to dig up the truth about ransomware
00:06payments in Australia.
00:08People are paying criminals money and it is happening in the darkness.
00:13Speaking prior to the cabinet reshuffle, the former Home Affairs Minister revealed the
00:17government's plan to drag the problem into the light.
00:21This is not a sustainable situation and business understand that.
00:24If the bill becomes law, businesses with an annual turnover of more than $3 million will
00:28have to report ransom payments.
00:30If they don't, they could face fines of $15,000 or more.
00:35In exchange there's a promise, cyber authorities won't tell regulators.
00:39We're not blaming businesses when they are subjected to a crime, they're victims of a
00:44crime and that's important to recognise.
00:46The message is it's safe to come clean, but it's not quite immunity.
00:51Regulators could still prosecute, but they'll have to get their evidence elsewhere.
00:54What we really need here is for business to be able to trust and be transparent with
01:00specific parts of government when they're under cyber attack.
01:04Business groups aren't convinced.
01:05Not everyone can follow all of the many obligations that are already on a number of businesses
01:11at the moment.
01:12They want smaller companies excluded and stronger protections for businesses that do disclose.
01:17It just needs to be tweaked further to ensure that those that do don't then end up being
01:23prosecuted because they willingly engage with the authorities.
01:27Cyber experts though have a different view.
01:29The Australian population might not see the impact of this bill on a day-to-day basis,
01:33but it will result in uplifted and enhanced cyber security, which is a win for all Australians.
01:39The government is hoping to bring the bill before parliament in the next sitting.
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