Under a new Risk Management Protocol signed off my the Australian Minister for Home Affairs and Cybersecurity, board members on critical infrastructure organisations will be held culpable for failure to properly secure their assets. The organisations will have 18 months to have a baseline and meet the standard. As part of consultation, affected companies provided cost impact statements that the protocol will impost more than $9 billion over 10 years. This is far less than projected losses if they suffered service outages, and it shows the level of under-preparedness for cyber threats against important assets across Australia. The moves are the latest measures by the government to reduce exposure of the country to global cyber threats.
https://www.afr.com/technology/businesses-face-new-9b-cybersecurity-requirements-20230217-p5clf5
This segment was created for the It’s 5:05 podcast