The federal government has set the annual turnover threshold for its new ransomware payment reporting regime at $3 million, dismissing calls from peak bodies to more than triple the amount.
New rules bringing about the mandatory regime, as well as mandatory security standards for Internet of Things devices, were signed off by Cybersecurity minister Tony Burke last week.
It comes three months after a landmark bill containing the new requirements passed federal parliament on the recommendation of the powerful intelligence and security committee.
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