ASIC lays the smackdown on FIIG Securities over failure to implement basic cyber security
ASIC’s lawsuit against FIIG Securities over “systemic and prolonged cybersecurity failures” is a wake-up call for all professional services firms, not just large financial institutions. The regulator expects even small and medium businesses to implement basic controls. Relying on size as an excuse no longer cuts it. Neglecting cyber hygiene exposes firms to legal, financial, and reputational risks. The message is clear: cybersecurity is a core business issue that demands executive oversight and regular attention. Proactive investment in IT security safeguards both compliance and future commercial opportunities.
