Home topics news Australian Parliament House Credit: Canva News News New Cyber rules: Are experts pumped or pessimistic? Yajush Gupta November 29, 2024 On November 25, 2024, the Australian Parliament passed significant reforms to bolster the nation’s cyber security posture, forming part of a strategic effort to position Australia as a global leader in cyber security by 2030. The new laws include the Cyber Security Act 2024 , the Intelligence Services and Other Legislation Amendment (Cyber Security) Act 2024 , and the Security of Critical Infrastructure Amendment Act 2024 .Key provisions in these reforms include the introduction of mandatory cyber security standards for smart devices, the requirement for certain businesses to report ransom payments, and the establishment of a Cyber Incident Review Board (CIRB) to analyze major cyber incidents and recommend improvements. Additionally, the reforms enhance the government’s ability to assist critical infrastructure during disruptions, expand information-sharing between industry and government, and refine the security framework for telecommunications. These measures aim to close existing legislative gaps, promote better cyber incident management, and ensure Australia’s preparedness in the face of evolving cyber threat Key measures in the reforms include: Mandatory cyber security standards for smart devices to protect consumers. Requirements for certain businesses to report ransom payments to improve threat intelligence. A new “limited use” rule for the National Cyber Security Coordinator and the Australian Signals Directorate to facilitate faster information sharing during cyber incidents. The creation of a Cyber Incident Review Board (CIRB) for post-incident reviews and recommendations. We reached