Tag:cyber

An AFS Licensee First: Receiving an Order to Pay AU$2.5 Million for Cybersecurity Failures

Jun 16 2026

By: Cameron Abbott, Daniel Knight, Rob Pulham, Alex Parker, Madison Jeffreys, Emre Cakmakcioglu and Annaliese Filippis

In a key decision against an Australian financial services licence (AFSL) holder, the Federal Court of Australia has ordered the AFSL holder to pay AU$2.5 million in penalties for inadequate cybersecurity measures. The Australian Securities and Investments Commission (ASIC) took action following a cyberattack on the AFSL holder’s IT systems, resulting in approximately 385GB of data being downloaded from its servers.

The FBI understands if you pay ransom to cyber hackers, but isn’t too pleased about it

Oct 28 2019

By Cameron Abbott and Karla Hodgson

While the FBI won’t be impressed if you pay ransomware demands in order to get your systems or data back after a cyber attack, its updated ransomware guidance contemplates that this might just be the outcome of an attack anyway.