Australia’s corporate cop has warned companies to heed cyber security warnings amid heightened global tensions.
The Australian Cyber Security Centre (ACSC) has urged all Australian organisations to boost cyber security, Australian Securities and Investments Commission Chair Joe Longo told a business summit on Thursday.
“We strongly encourage you to act on that advice and improve your cyber security resilience in light of the heightened threat environment,” he said.
He reminded companies at the Australian Institute of Company Directors (AICD) governance summit that they have an obligation to manage cyber risk and can face legal action over failures.
The corporate watchdog expects all boards, senior management, licensees and other regulated entities to pay heightened attention to their entity’s exposure and mitigate breaches.
An enhanced cyber security posture means reviewing and enhancing detection, mitigation, and response measures.
ASIC says entities should ensure that logging and detection systems in their environment are fully updated and functioning and increase monitoring of their networks.
Companies should also assess their preparedness to respond to any cyber security…
