Intellectual Property (IP) Law services encompass legal assistance in protecting, enforcing, and managing intellectual property rights. These services include trademark registration, patent filing, copyright protection, and the enforcement of these rights against infringement. IP law services also extend to licensing agreements, IP litigation, trade secrets protection, and portfolio management. These firms provide strategic advice to help clients maximize the commercial value of their intellectual property while ensuring compliance with laws and regulations. The goal of these services is to safeguard innovations, brands, and creative works from unauthorized use and to foster business growth through protected intellectual assets.

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I agree that this is a complicated question.  They have the authority to regulate how their government works, but I doubt that they can issue an executive order to ban ransomware payments without passing a law.


Regardless, I don't know if it is effective.  It is a business decision and only the business owner knows the answer. Let's say it got banned.  How do they stop international ransomware payment brokers from getting the encryption key on behalf of the business?

Not sure that this will be effective.  The company I work for would obviously never do this, but I can imagine that you use a partner service to negotiate with the criminals, and perform any payments.  This brings it back to a business decision, where you compare the cost of downtime with the cost of paying.   Still a very complex equation, but the government stance does not really come into play I'd say.

Ransomware is a business. No business likes to do work there not going to be paid for. So banning ransomware payments will make Australian organisations less attractive clients.

Unfortunately encrypting organisations data and asking for payment is only one way for them to make money.

Banning ransomware payments will not stop hackers from exfiltrating data and selling it on the dark web. It also won’t stop them taking that data to blackmail individuals. 

It also won’t prevent attacks designed to steal IP or those launched by nation states as part of cyber warfare.

We have all seen how innovative the bad actors have been and unfortunately that means they will find other ways to make money from data breaches.

Despite the fact that banning ransomware payments is not the silver bullet solution it is a good first step.

Yes. It would be a good step but will not be effective in isolation. Not only the greed of the cyber criminals needs to be controlled but the implementation also needs to be effective. 

Secondly the tracking mechanisms for the ransomware needs to be improved and successfully closed cases highlighted so that others have the confidence in the law enforcement.

I feel this should be illegal and banned.
This will also force the organisation to allocate more budget for cyber defence. Out of experience, I can say if you have good cyber insurance for a ransomware attack, you may hear not to put top-level resources on cyber defence. 

Australia's government is considering a ban on ransomware payments — do you think that could be effective? Why or why not?

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