Tag:Asia Pacific

1
Westpac Acquires Cyber Security Firm
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Cyber Resilience for Financial Services Entities
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Government Regulation, Legislation and Enforcement Updates
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Government Regulation, Legislation and Enforcement Updates
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Malaysia Airlines Breach

Cyber Resilience for Financial Services Entities

by Jim Bulling and Julia Baldi

ASIC Report 429
In March this year, the Australian Securities and Investments Commission (ASIC), issued Report 429 Cyber resilience: Health check (REP 429). The report aims to highlight the importance of cyber resilience for entities regulated by ASIC, including Australian Financial Services Licence holders, Australian Credit Licence holders and listed entities. The Report indicates that ASIC is keen to ensure that Australia keeps pace with developments in Europe and the United States in combatting cybersecurity risks.

Click here to read the full article.

Government Regulation, Legislation and Enforcement Updates

by Jim Bulling and Julia Baldi

Australian Federal Government Cybersecurity Review
The Australian Federal Government holds a Cybersecurity Review.

See the Australian Government’s summary of the review here.

SEC Guidance Update
The SEC’s Investment Management Team published a Guidance Update which outlines measures managed funds and investment advisers may wish to consider in addressing cybersecurity risk. The guidance includes practical tips applicable to Australian entities.

See the Guidance Update here.

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Government Regulation, Legislation and Enforcement Updates

by Jim Bulling and Julia Baldi

China Introduces new Cybersecurity Laws
China introduced new cybersecurity laws, which require both local and foreign banks and financial institutions with Chinese clients (including Australian financial institutions) to use IT equipment deemed “secure and controllable” by Beijing. The breadth of the laws has upset foreign financial institutions given the potential cost of compliance if foreign entities must implement IT equipment systems in accordance with Chinese directives.

See the Financial Times report here.

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Malaysia Airlines Breach

by Jim Bulling and Julia Baldi

Malaysia Airlines was hacked on 26 January 2015, with visitors to malaysiaairlines.com being confronted by an image of a lizard in a top hat, monocle and tuxedo. In addition, customer data appeared to have been leaked online.

See the Bank Info Security post about the breach here.

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