Aussie Businesses Paying Ransoms to Cyber Criminals
Update: 2025-12-01
Description
Australias new ransomware reporting scheme reveals a surprising trend: many businesses are paying cyber criminals. The initiative, which began in May, requires companies with over three million dollars in annual turnover to report ransom payments. So far, sixty-six businesses have reported paying ransoms, but the Home Affairs Minister believes this number is likely higher. The National Cyber Security Coordinator advises against paying ransoms, as it fuels the twenty-five billion dollar-a-year cybercrime industry. However, in rare, critical situations, paying may be seen as the only quick option to restore systems.
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