The US federal government has developed a new set of voluntary standards to guide businesses in their efforts to secure essential systems against cyber threats. Minister of Home Affairs Karen Andrews announced the Critical Technology Supply Chain Principles, which she said were created to give businesses and consumers confidence in allocating more resources to critical emerging technologies like artificial intelligence, blockchain, quantum computing, and algorithmic automation.
According to Andrews, these concepts arrive at a critical juncture for Australia and our essential industries. We are increasingly reliant on systems that may be hacked, held to ransom, or otherwise disrupted, and we confront unprecedented dangers from a variety of malevolent cyber actors, as well as increased geostrategic uncertainties.
The principles were established in collaboration with businesses, non-profits, state and territory governments, and the general public. Home Affairs expects that some of these principles will enable organizations with limited resources to put suitable safeguards for key technology.
According to Home Affairs, customers do not need professional expertise. They are not unfairly assigned risks that they are not best situated to manage when design integrates security. The department also warned that these principles must be considered since a lack of security measures might have negative consequences for the larger society and Australia’s national interest.
Andrews stated that the federal government would be incorporating the standards for its decision-making methods as part of the principles announced. He also said that wide acceptance of these new principles, together with vital legislation presently before the Senate to promote and assist essential businesses in combating cyberattacks, will ensure Australia’s security and prosperity for years to come.
The principles were released in response to the federal government’s recent submission to Parliament of a revised Security Legislation Amendment (Critical Infrastructure) Bill 2020. Parts of the bill that were cut will be examined in a later bill. As part of its Ransomware Action Plan, the federal government is drafting a new set of stand-alone criminal offenses for anyone who employs ransomware.