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AIST strongly supports measures that seek to enhance the security capabilities of superannuation funds. As the custodians of Australian’s retirement savings, trustees are acutely aware of the need to have robust systems in place to safeguard these finances from all threats.
The security capabilities and governance of superannuation funds have been enhanced through several industry specific regulatory instruments. These regulatory standards, overseen by APRA, ensure that funds can protect members’ monies and data from physical or cyber related threats. These instruments comprehensively cover all aspects of fund operations, including services undertaken through outsourced providers.
AIST welcomes the stated intent to work with industry on the critical infrastructure regulatory framework to avoid duplication and/or impracticable regulation.