One to watch. Regulators are taking direct action against companies who fail to take reasonable steps to apply cyber security controls.

← Back to Blog

One to watch. Regulators are taking direct action against companies who fail to take reasonable steps to apply cyber security controls. As the Australian Securities and Investments Commission (ASIC) taking financial advice company RI Group to the Federal Court for failing to maintain a “reasonable standard” of cyber security. (https://lnkd.in/d-amcsR). Failing to establish and maintain the compliance measures required under it’s Australian Financial Services Licence.

The action focuses on adequate risk management practices, failing to take appropriate steps following a cyber breach and inadequate cyber security and cyber resilience. In what appears to be a number of cyber issues, including cyber incident response and audits where appropriate was not taken.

View Original Post
https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A6706128787353964544