The Australian Securities and Investments Commission (ASIC), the country’s corporate and financial services regulator, has issued an urgent call to all licensees and market participants to strengthen their cyber resilience as frontier artificial intelligence accelerates the global threat landscape.
In an open letter to industry, ASIC warned that although cyber risk is not new, the misuse of cutting-edge AI models could expose security vulnerabilities with a speed, scale, and sophistication previously unseen. The regulator stressed that firms should not delay in addressing foundational cyber security before advanced AI tools become even more widespread.
The letter, signed by ASIC Commissioner Simone Constant, sets out a broad range of actions entities should take immediately. These include reassessing cyber plans to focus on the most pressing risks, identifying and protecting critical assets, minimising the attack surface by limiting system exposure to untrusted networks, and reviewing user access privileges. Firms are also urged to patch systems promptly given that AI is accelerating the pace at which vulnerabilities are discovered and exploited, to adopt layered…
