Ransom-where is your money going? Introduction of the Ransomware Payments Bill 2021 (Cth)

A number of high profile media and entertainment businesses have been the victims of ransomware attacks in recent years. In Australia, a Bill has been recently introduced to Federal Parliament that seeks to impose an obligation on organisations other than small businesses to notify the Australian Cyber Security Centre as soon as practicable if it makes a ransomware payment. A civil penalty will apply for failure to do so. The Bill has yet to be considered by the Senate but has passed the House of Representatives.