Super cyber-security readiness to be tested | Australian Markets

The superannuation industry is transferring this week to take a look at its capacity to deal with an eco-system large cyber security breach.’

The Gateway Network Governance physique in collaboration with key superannuation sector stakeholders, will take a look at the effectiveness of a cyber security incident response beneath “Operation Honey Bee II”.

Gateway Network Governance Body (GNGB) chief government, Michelle Bower mentioned the train has been named honey bee as a result of honey bees work collectively to defend and keep the health of their hive.

“Our ability to respond effectively to cyber threats depends on shared responsibility, collaboration and readiness across the ecosystem,” she mentioned

“We are pleased to be able to provide these opportunities for all types of organisations across the superannuation ecosystem to come together to explore real-world response strategies in a safe, collaborative setting and exercise our collective response capability,” Bower mentioned.

The GNGB mentioned that train will Build on the success of two earlier sector-wide workouts, bringing collectively representatives from throughout the superannuation ecosystem, together with funds, directors, service suppliers, regulators and authorities businesses.

Association of Superannuation Funds of Australia (ASFA) chief government, Mary Delahunty mentioned the initiative is meant to strengthen collective cyber resilience, take a look at coordination capabilities and reinforce preparedness for more and more complicated and complicated cyber threats.

The GNGB mentioned the train will simulate a coordinated response to a vital cyber-attack, giving members the chance to establish strengths, uncover gaps and take a look at communication and compliance procedures beneath strain.