The Cyber Security Industry Advisory Committee has released its first paper, with a focus on the ongoing global threat of ransomware and the risk that cyber criminals pose to Australians and their businesses.
Minister for Home Affairs, Peter Dutton said the paper, Locked out: Tackling the ransomware threat, would educate businesses on how to protect themselves by taking action on a number of recommendations related to email security, multi-factor authentication, software updates, training, back-ups, data lifecycle management and built in security features.
“Phishing and poor cyber security continues to be the main facilitator for ransomware attacks,” Mr Dutton said.
“This has been supported by a growth in the proliferation of cryptocurrency which is hard to trace, making it ideal for ransomware demands,” he said.
“Cyber criminals continue to see Australian businesses as an attractive target and ransomware is a particularly disruptive form of cyber attack that can have devastating impacts.”
Mr Dutton said many ransomware attacks could be avoided by implementing basic cyber security controls and urged businesses to take the time to review the Advisory Committee’s Paper.
Chair of the Cyber Security Industry Advisory Committee, Andrew Penn said businesses couldn’t afford to be complacent as the world became increasingly connected by digital technologies.
“Ransomware is one of Australia’s fastest growing threats as business spends more and more time participating in the digital economy,” Mr Penn said.
“Sixty-two per cent of small business have experienced a cyber security incident so being prepared and protecting your organisation and your customers is the digital equivalent of locking your front door at night,” he said.
Mr Penn said the Advisory Committee’s Paper would help Australian businesses understand the risks of ransomware and prepare accordingly.
The Advisory Committee’s 12-page Paper can be accessed on the Department of Home Affairs’ website at this PS News link.
