August 2020 – Cyber Law Watch

From voluntary action and collaboration to legislation and classified capabilities: Australia’s Cyber Security Strategy 2020 released

Aug 20 2020

By Cameron Abbott, Keely O’Dowd and Rebecca Gill

In July this year, we blogged about the Australian Government’s plan to release Australia’s Cyber Security Strategy (Strategy). On 6 August 2020, the Strategy was released after consultation with the public and industry actors.

The Strategy will invest $1.67 billion over the next 10 years – the largest ever financial commitment to cyber security – to create a more secure online world for Australians, our businesses and the essential services which we depend upon. This will be achieved through the following:

By Cameron Abbott, Keely O’Dowd and Max Evans

The Office of the Australian Information Commissioner (OAIC) has released its report on notifications received under the Notifiable Data Breaches scheme for period January to June 2020.

The OAIC reported 518 breaches were notified to it in the relevant period. The OAIC noted a 3% decrease from the 532 breaches notified in the period July 2019 to December 2019. However, there was a 16% increase on the 447 notifications received during January to June 2019.

Aug 04 2020

By Cameron Abbott and Max Evans

In these unprecedented times, where travel around the globe is primarily halted as nations get to grips with controlling the outbreak of COVID-19, many would think it couldn’t get any worse for travel companies. However, they would be wrong, as according to an article from ITNews, American travel management giant CWT has reportedly paid a whopping 414 bitcoin, equivalent to a value of 4.5 Million USD (approximately 6.3 Million AUD), to hackers who successfully exfiltrated over 2 terabytes of sensitive corporate files.

According to the Article, the successful hackers used a strain of ransomware referred to as “Ragnar Locker” which places computer files into a virtual prison through encryption and renders them unusable until the victim pays for the keys. Then in CWT had to negotiate in a public chat forum to pay for the release. It gives us a rare insight into the dialogue that followed. CWT negotiated the hackers down from their initial demand of 10 Million USD. According to the Report, whilst the hackers claimed to have stolen over 2 terabytes of files including financial reports, security documents and employees’ personal data, it was not clear whether any customer data was compromised.

Archive:August 2020

From voluntary action and collaboration to legislation and classified capabilities: Australia’s Cyber Security Strategy 2020 released

Cyber Criminals “King of the (Data Breach) Jungle”: 61% of all Data Breaches caused by Malicious or Criminal Attacks, according to OAIC Report

Can It Get Any Worse? Travel Giant CWT pays $4.5 Million USD ransom to Hackers who Stole Corporate Files and Knocked 30,000 Computers Offline