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ARTICLE · 16 DECEMBER 2024

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Bits, Bytes and Boards: Australia's New Cyber Security Act 2024

Gilchrist Connell
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Laws to safeguard Australia's national security and economic interests against the evolving cyber threat landscape.

AustraliaPrivacy
Nitesh Patel
Nitesh Patel
Anthony Ross
Anthony Ross
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On 25 November 2024, the Federal Parliament passed the Cyber Security Act 2024 (Cth) (Act), establishing a robust framework to safeguard Australia's national security and economic interests against the evolving cyber threat landscape. The legislation is one of many steps the Government intends to take to achieve its ambition of making Australia a world leader in cyber security by 2030.

What does it do?

The Act will introduce the following:

  • powers to set minimum security standards for certain smart devices
  • mandatory reporting of ransomware and cyber extortion payments for qualifying businesses
  • greater protections for entities voluntarily sharing information with the National Cyber Security Coordinator (NCSC) and

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