Ted Dziekanowski, this is an interesting read.

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Ted Dziekanowski, this is an interesting read. The case bought by the Australian Securities and Investments Commission (ASIC) adds precedence in Australia for cyber security and risk management practices, of AFSL licence holders. The Key takeaways identified in the article are worth a read.

In trying to define what is adequate cyber risk management the court established that a standard of care is required. Albeit the court did not define what specifically licence holders must have in place to manage cyber risk. Taking the view that cyber risk management is a highly technical are of expertise.

the assessment of the adequacy of any particular set of cyber risk management systems requires the technical expertise of a relevantly skilled person.”

The reasonable standard of performance is to be assessed by reference to the reasonable person qualified in that area, and likely the subject of expert evidence before the Court, not the expectations of the general public”. 

#cyberrisk #cyberlegal #legal #cybersecurityriskmanagement

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