The Biden Administration has announced Australia will head the international fight against ransomware cyberattacks as part of the U.S.-led Counter Ransomware Initiative.
According to the White House, Australia will chair the International Counter Ransomware Task Force (ICRTF) to coordinate resilience, disruption, and counter illicit finance activities.
The ICRTF will also be used to develop cross-sectoral tools and cyber threat intelligence exchange to increase early warning capabilities and prevent attacks, as well as consolidate policy and best practice frameworks.
Additionally, it will generate resources for the public on “tools, tactics, and procedures” to improve awareness and cyber hygiene around ransomware globally, and will work with key private sector partners, including the establishment of an ancillary industry chapter that would be actively engaged with the work of the ICRTF.
“Ransomware attacks are on the rise around the world,” she said. “This task force will enable collaboration with our international partners worldwide to disrupt, combat, and defend us against ransomware.”
Australia a Major Target for Ransomware Attacks
The announcement comes as Australia continues to be targeted by ransomware hackers, with numerous cyber incidents targeting major public companies like Medibank, Australia’s larger health insurer; Optus, the second largest telecommunications company; and EnergyAustralia, one of the three largest energy companies. Additionally, Australian real estate giant Harcourts and online companies Vinomofo, Woolworths’ MyDeal, and Medlab.The amendment will significantly increase penalties to organisations for serious or repeated privacy breaches, a move the Labor government hopes can compel businesses to do more on cybersecurity.
It will also strengthen the Notifiable Data Breaches scheme to ensure the Information Commissioner has knowledge of an incident and the data compromised.
Albanese Government Under Scrutiny for Cyber Security Approach
The Australian government has faced scrutiny over its response to the ongoing attacks, with Shadow Minister for Cyber Security James Paterson questioning the time it’s taken the minister for cyber security to respond to the attacks.“In a cyber attack, time is of the essence. Early engagement by the government allows the facts to be established, data theft to potentially be disrupted, and gives customers time to take any necessary steps to mitigate the consequences of the breach.”