ASIC comes for IOOF subsidiary over inadequate cyber security infrastructure
August 21, 2020 • In The Media
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The Australian Securities and Investment Commission (ASIC) has launched legal proceedings against a subsidiary of IOOF (ASX: IFL) for failing to have adequate cyber security systems. David Simmons, Business News Australia
The case, now in the Federal Court, follows a number of alleged cyber breach incidents at authorised representatives of RI Advice Group, an Australian Financial Services (AFS) licence holder.
These breaches include an alleged alleged cyber-attack at Frontier Financial Group.