Australia - Cyber Security Act 2024
Business description
On November 29, 2024, the Cyber Security Act 2024 received Royal Assent and became Law.
The Cyber Security Act includes measures to:
- mandate minimum cyber security standards for smart devices
- introduce a mandatory ransomware and cyber extortion reporting obligation for certain businesses to report ransom payments
- introduce a Limited Use obligation for the National Cyber Security Coordinator to encourage industry engagement with the government following cyber incidents
- establish a Cyber Incident Review Board to conduct reviews of significant cyber incidents and share lessons learned
Countries:
Australia
Product categories:
Components
Electrical Assembly Group
Furniture
Household Appliances
Luminaires/LED
Machinery Products
Power Tools
Toys
Technical aspects:
Telecom/Wireless
Business fields:
BS I Industrial Services & Cybersecurity
P.01 Softlines
P.02 Hardlines
P.03 Electrical
P.05 Medical
Regions:
Oceania
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