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Watchdog takes aim at company directors over cybersecurity

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The corporate regulator will target the directors of Australia’s largest companies if they fail to do enough to protect customers from a cyberattack.

was the subject of a cyberattack in which the data of 10 million former and current customers was stolen, as well as some sensitive customer health records. Latitude also reported it was the victim of a significant cyberattack.The information commissioner investigations will focus on whether these companies took reasonable steps to protect the personal information they held from misuse, interference, loss, unauthorised access, modification or disclosure.

ASIC chairman Joe Longo says company directors will be held responsible if their organisations have an inadequate response to cyber attacks.Cybersecurity Minister Clare O’Neil, also appearing at the summit, unveiled the government’s next stage of plans to help combat the growing cybersecurity issues for Australian companies with a national security framework.

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