The resource Legal update: archive, The Ransomware Payments Bill 2021 (Cth) provides an overview of the introduction of the Ransomware Payments Bill 2021 (Bill) by Labor into the federal House of Representatives in response to a recent surge in ransomware attacks on Australian organisations. The Bill aims to establish a mandatory notification scheme applicable to ransomware payments (as defined) made by Commonwealth entities, states and territories and their agencies, and any person who carries on a business (within the meaning of the Income Tax Assessment Act 1997 (Cth) (ITA Act)). This includes partnerships but exempts small business entities as defined in the ITA Act (that is, entities with an annual turnover of less than $10 million) (clauses 5 and 11 of the Bill) (Entities).

For further information about ransomware including how it works and how to prevent, detect and respond to attacks, see Practice note, Ransomware.

For a toolkit to guide users through Practical Law's content relating to the legal, practical and commercial issues associated with cybersecurity, see Toolkit, Cybersecurity.