The Australian Securities and Investments Commission (ASIC) has recommended cyber resilience of the ASX, Chi-X, as well as encouraging the broader financial services industry to examine their information security arrangements, stating that cyber risk is one of the most significant concerns for the industry. In a report released today, the regulator said it was concerned about the lack of adequate cybersecurity measures in Australia’s major banks, which are increasingly reliant on external data sources such as SWIFT, rather than internal
The Australian Securities and Investments Commission (ASIC) has recommended cyber resilience of the ASX, Chi-X, as well as encouraging the broader financial services industry to examine their information security arrangements, stating that cyber risk is one of the most significant concerns for the industry. "We also strongly encourage organisations to share threat intelligence and collaborate with industry peers to improve cyber resilience practices across the financial services industry", stated ASIC, adding the need for senior management within organisations to monitor threats from internal and third-party sources.