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Paul Smith

ASIC readies to wield a big stick against boards lax on cybersecurity

The regulator is talking about investigating directors who have been remiss in guarding against hackers. Not everyone thinks that’s the best approach.

Paul SmithTechnology editor

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The air chilled in the ballroom hosting The Australian Financial Review Cyber Summit on Tuesday when the Australian Securities and Investments Commission’s Simone Constant began talking about investigations underway into directors and executives at organisations deemed to have neglected their duties to guard against hackers.

Her appearance followed a string of senior cyber executives from some of Australia’s biggest companies, as well as security agencies and the new cyber minister Tony Burke, who had all advocated for a collegiate, “all in this together” approach to fighting the growing and evolving threat of cyber crime and warfare.

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Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com

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    Original URL: https://www.afr.com/technology/asic-readies-to-wield-a-big-stick-against-boards-lax-on-cybersecurity-20240917-p5kb86