<ul><li>Australia's new Ransomware Payment Reporting Rules will become effective from May 30, 2025, requiring businesses to report ransom payments within 72 hours of a cyberattack.</li><li>CEOs are advised to be prepared for ransomware attacks by understanding reporting requirements, considering the implications of paying a ransom, and establishing communication plans and protocols.</li><li>Preparedness for ransomware attacks is crucial, including clear identification of responsible parties, backup protocols, and a proactive approach to cybersecurity strategy.</li><li>CEO questions regarding ransomware reporting rules include considerations about the necessity of reporting, implications of paying a ransom, response strategies during an attack, and the balance between transparency and potential consequences of reporting.</li></ul>

Ransomware reporting rules begin in June: 5 CEO questions answered

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