By Mina Martin
ASIC-regulated entities have been invited to participate in the ASIC cyber pulse survey, to measure cyber resilience in Australia’s corporate and financial markets.
The survey, which will be one of the largest conducted into Australia’s cyber resilience, will help measure entities’ ability to govern and manage organisational-wide cyber risks, identify and protect information assets that support critical business services, and detect, respond to, and recover from cyber security incidents.
Participation in the survey is voluntary, with all responses collected to be de-identified and anonymised. Responses cannot be used in any regulatory or enforcement action.
“Recent high-profile cyber attacks demonstrate the need for all businesses to have robust cyber capabilities,” said Greg Yanco (pictured above), ASIC executive director of markets. “Cyber attacks are becoming more frequent and complex and are not limited to companies with large retail customer bases.
“Cyber attacks can disrupt an organisation’s business operations and result in financial, legal, and reputational harm. The interconnectedness of our financial system can mean the impact of cyber attacks can spread well beyond a single entity. This self-assessment will provide valuable insights to entities on their own cyber resilience measures compared to their industry peers.”
To take part in the survey, ASIC-regulated entities, including publicly listed companies and other entities holding licences and authorisations, can log into the ASIC Regulatory Portal, and following the link provided.
Key findings from the survey will be published by ASIC in a report later this year.
The Department of Home Affairs, the department supporting the minister for cyber security and the government’s mission to make Australia the world’s most cyber secure nation by 2030, is supportive of the survey, which will provide it with insights to further target advice and assistance to the financial sector, support enhanced partnerships to continue the sector’s uplift in cyber security and resilience, and ensure compliance with regulatory requirements.
After the survey closes, respondents who opted to receive an individual report will get insights into how they have assessed their current cyber resilience capability compared to their industry peers.
What do you think about the survey? We’d love to hear from you in the comments below.