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Showing 1 - 10 of 31 results for "Cyber risk"

ACNC tightens screws on NFPs with complex corporate structures

JAMIE WILLIAMSON  |  THURSDAY, 21 MAR 2024
The Australian Charities and Not-for-profits Commission (ACNC) announced it will focus on the misuse of complex corporate structures this year. ACNC commissioner Sue Woodward said the commission is "becoming increasingly concerned about the misuse of ...

'Significant deficiencies' lead APRA to act against NGS Super

JAMIE WILLIAMSON  |  FRIDAY, 8 DEC 2023
... financial services industry for some time now to enhance their cyber protections. According to MinterEllison's 2023 Cyber Risk Report, 82% of survey respondents from the financial services sector ranked cyber risk among their top five priorities. ...

Wealth managers shirk cybersecurity priorities

KARREN VERGARA  |  MONDAY, 13 NOV 2023
An alarming number of small and large wealth managers are underprepared for cybersecurity breaches particularly when it comes to managing third-party providers, a new report from ASIC finds. Wealth managers across the spectrum have a long way to go ...

'Critical shortcomings' demand urgent action from trustees: APRA

ANDREW MCKEAN  |  TUESDAY, 31 OCT 2023
... during severe disruptions, and responsibly manage risks linked to third-party outsourcing. However, Cole singled out cyber risk as an area still requiring greater attention. "As the early findings from APRA's study on cyber resilience in financial ...

Boards must crack down on cybersecurity: ASIC

CASSANDRA BALDINI  |  TUESDAY, 19 SEP 2023
... in the space, Longo said there's a disconnect between several important elements, being boards' oversight of cyber risk, management reporting of cyber risk to boards, management identification and remediation of cyber risk, cyber risk assessments ...

Industry grapples with looming cyber threats

CHLOE WALKER  |  THURSDAY, 27 JUL 2023
... major institutions have fallen victim to cyber breaches, most notably NGS Super. According to MinterEllison's 2023 Cyber Risk Report, 82% of survey respondents from the financial services sector ranked cyber risk among their top five priorities. However ...

NGS Super suffers cyber-attack

JAMIE WILLIAMSON  |  MONDAY, 27 MAR 2023
... there hasn't been a material cyber incident in super so far; but our work highlights the need for a broad uplift in cyber risk management," Ellis said. She also noted that all APRA-regulated super funds would be assess under Prudential Standard CPS ...

The sophistication of cyber threats is increasing: O'Neil

CHLOE WALKER  |  WEDNESDAY, 22 MAR 2023
Kicking off day two of the Conference of Major Superannuation Funds, minister for home affairs and cybersecurity Claire O'Neil shared some harrowing truths about the intensity of cyber threats on Australian super funds. "Two of my biggest responsibilities ...

Regulators prioritise emerging areas of risk

CASSANDRA BALDINI  |  WEDNESDAY, 22 MAR 2023
... hopefully we can work towards actually preventing the growth of this go forward," she said. Ellis also pointed out that cyber risk remains a priority for APRA and the industry should be ensuring it does what it can to protect both the fund and its members. ...

Regulators sound alarm on cybersecurity, fraud in super

ANDREW MCKEAN  |  FRIDAY, 24 FEB 2023
... there hasn't been a material cyber incident in super so far; but our work highlights the need for a broad uplift in cyber risk management," Ellis says. To address these concerns, APRA is conducting independent assessments of entities across all industries ...
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