Article
Australian Securities And Investments Commission v FIIG Securities Limited: Civil Penalties For Financial Service Licence Holder With Inadequate Cybersecurity
In the first decision of its kind in Australia, the Federal Court of Australia has awarded a civil penalty of A$ 2.5m (US$ 1.77m) and costs of A$ 500k (US$ 350k) against an Australian financial services licence holder due to serious and sustained cybersecurity failings.
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