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Directors must face cyber risks
Boards and managers of the largest public firms will soon be held responsible for protecting customers and shareholders from cyber risks, at the same time threats from criminals and state actors escalate.
Mar 11, 2021 – 12.00am
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A regulatory train labelled “cyber risk management” is barrelling towards hundreds of unsuspecting and ill-prepared directors of ASX top 200 companies.
That’s one of the conclusions to be drawn from Chanticleer’s analysis of the Morrison government’s cyber security strategy, which includes changes to directors duties under the Corporations Act in the second half of this calendar year.
Secretary of the Department of Home Affairs, Mike Pezzullo, says cyber protection is about partnerships between government and business.