Government considers range of options. By David Braue on Jul 15 2021 10:50 AM Print article
The government is considering holding directors liable for cyber attacks. Photo: Shutterstock
Company board members could potentially be held personally liable if their company suffers a cyber attack, Minister for Home Affairs Karen Andrews has warned, as the government continues tightening controls on the way companies manage ransomware and other cyber attacks.
A series of mooted policy changes – such as recent proposals to mandate reporting of ransomware payments, fine companies that don’t fess up, and ban insurers from paying fast-increasing ransomware payouts – reflect government concerns that escalating cyber security attacks are extracting an immense financial and operational toll.
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