New Australian ransomware plan allows for seizure of crypto

New Australian ransomware plan allows for seizure of crypto


Australian lawmakers are taking a tougher stance against ransomware with a new plan that increases penalties for offenders.

The new measures and proposed Surveillance Legislation Amendment announced by the federal government on Oct. 13 come after a 60% surge in cyberattacks on Australian businesses and state agencies last year. According to reports, these incursions cost the economy $AU1.4 billion (around $US1 billion).

The Ransomware Action Plan would give authorities the power to seize or freeze financial transactions in cryptocurrencies that are associated with cybercrime regardless of the country of origin.

Trending: Dr. Stella Immanuel: “The Whole Pandemic Was A TROJAN HORSE For Vaccines – Fauci Is Epitome Of Evil.”

The government aims to modernize current legislation to make it easier for authorities to try and recover crypto funds stolen by cybercriminals.

Home Affairs Minister Karen Andrews said that the new measures were designed to deter the targeting of

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend