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MSN: The Australian securities watchdog said it is taking fixed-income broker FIIG to court, alleging it failed to implement adequate cybersecurity measures over a four-year period, enabling a hacker to infiltrate its IT network.
Tech Monitor: A report published by Australia-based Monash University has exposed the growing prevalence of ‘cyberwashing,’ a practice where organisations exaggerate their cybersecurity capabilities to create a misleading perception of robust data protection.
CSO Online: The Cyber Security Legislative Reforms proposed by the Australian federal government passed both houses on 25 November, during the last week of Parliamentary sittings.
CSO Online: The Australian Federal Government has introduced the Cyber Security Bill 2024 to Parliament proposing the country’s first standalone cybersecurity Act.
CSO Online: Managing cybersecurity and other technology risks will be top of mind for CIOs in 2025 across Australia and New Zealand (ANZ), with 82% of 109 respondents saying it is a key priority for next year, according to Gartner.
The Guardian: More than 7,300 websites have been taken down in the first year of operation of the Australian Securities and Investment Commission’s service targeting investment scams, the regulator has revealed.
The Target: MediSecure, an Australian electronic prescription provider.
The Take: The impacted data included personal information including full names, titles, dates of birth, gender, email addresses, phone numbers, and individual healthcare identifiers (IHI).
The Vector: An early forensic investigation by the company into the relevant impact of the incident indicated that 6.5TB of data stored on a database server was likely exfiltrated by a malicious third-party actor, although, encrypted servers couldn’t be examined for further details.
This breach is critical reminder that zero-day exploits do happen, and furthermore that patching software in a timely, effective manner is a key component of ensuring customer data is protected. Ensuring third-party vendors are deploying patches and fixes in accordance with a firm’s cybersecurity policy is an important step in an overall robust security posture.
Australian Prudential Regulation Authority: The Australian Prudential Regulation Authority (APRA) has written to all APRA-regulated entities emphasising the critical role of data backups in cyber resilience.
Yahoo News: Australia's Iress Ltd over the weekend detected and contained an unauthorized access of the firm's space on a third-party platform which is used to manage its pre-production software code, the financial software firm said.
Financial Newswire: While at least one industry superannuation fund continues to deal with APRA over a cyber-security incident a year ago, the Association of Superannuation Funds of Australia (ASFA) has made clear to the Government that its member funds do not want minor security incidents being automatically escalated to APRA.
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