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Paying off hackers is common, says top Australian govt cybersecurity firm

SYDNEY (Reuters) -Corporate insurers routinely pay hackers a ransom for the return of stolen customer data, a top Australian government cybersecurity provider said on Tuesday, as the country’s biggest health insurer revealed the growing scale of a recent breach. The claim from Macquarie Telecom Group Ltd, which runs cybersecurity for 42% of Australian federal employees, including the Australian Taxation Office, gives a sense of a lack of preparedness in an industry that has been in the spotlight amid a wave of high-profile hacks in the past month. “These are the largest corporations in the world, falling over themselves to pay criminals as fast as possible to cap their liability,” Macquarie CEO David Tudehope told Reuters in an interview, referring to cyber insurance firms that he did not name.

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