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Service providers that work with entities regulated by the Australian Prudential Regulatory Authority (APRA) need to adhere to the information security-related Prudential Standard CPS 234 by 1 July 2020. We ask some experts what it is and how enterprises can get ready for it.
What is CPS 234?
CPS 234 is an APRA prudential standard aimed at making sure that APRA-regulated entities are adequately prepared to protect themselves against information security incidents, including cyber attacks, to maintain information security capability commensurate with information security vulnerability and threats.
According to the text of CPS 234:
A key objective is to minimise the likelihood and impact of information security incidents on the confidentiality, integrity or availability of information assets, including information assets managed by related parties or third parties.
The Board of an APRA-regulated entity is ultimately responsible for…
