Proposed cyber ransom bans predicted to cause “catastrophic damage”
By Cameron Abbott, Rob Pulham, Stephanie Mayhew and Dadar Ahmadi-Pirshahid
We saw last year how low hackers are willing to stoop to shame companies into paying ransoms, including leaking sensitive information aimed at embarrassing individuals affected by data breaches. As a result we also saw prominent calls for ransom payments to be ‘banned’, to reduce the financial incentives for hackers to target Australians’ personal information.
We are now hearing the flipside to that argument, with AGL Energy warning that a government-imposed ban on companies paying cyber ransoms to hackers could cause “catastrophic damage”.
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