06/12/2021 - 16:15

Firms “robust” in face of cyber threats

06/12/2021 - 16:15

Bookmark

Save articles for future reference.

Australian financial markets firms continue to be resilient amid an evolving cyber threat environment but have fallen short of improvement targets, ASIC has revealed.

Firms “robust” in face of cyber threats
Photo: Attila Csaszar

Australian financial markets firms continue to be resilient amid an evolving cyber threat environment but have fallen short of improvement targets, ASIC has revealed.  

The corporate overseer said there had been a small but steady improvement of 1.4 per cent in the industry in the latest cyber resilience of firms in Australia’s financial markets report.

But the improvement fell short of the 14.9 per cent improvement targeted for the period.

ASIC conceded that the target had been “overly ambitious” however and said that escalating cyber threat environments and disruptions caused by the pandemic had led organisations to reassess the targets set in 20119 and redirect resources to enabling secure remote working.

“Firms operating in Australia’s markets continue to be resilient against a rapidly changing cyber threat environment,” ASIC Commissioner Cathie Armour said.

“The COVID-19 pandemic has increased opportunities for threat actors to target remote workers, and access remote infrastructure and supply chains critical to the delivery of products and services.

“However, the response from firms has been robust.”

 

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options