Information Security is an essential requirement for banks, insurers, superannuation funds, and other APRA-regulated entities. It aims to enhance resilience against information security incidents, including cyber-attacks. It mandates that Boards and senior management assume clear accountability for information security by maintaining an information security capability, including controls and assurance activities proportionate to the organisation's size, the sensitivity of its information assets, and the threats it faces.
In accordance with CPS 234, regulated entities are required to identify and classify their information assets, implement controls proportionate to the risks involved (including those involving third-party service providers), conduct continuous testing and enhancement of these controls, and promptly notify APRA of any material information security incidents and control deficiencies. By integrating CPS 234 into governance, risk management, and technology practices, financial institutions can enhance the protection of the confidentiality, integrity, and availability of customer and business information, while also demonstrating rigorous regulatory compliance and effective cyber-risk management to stakeholders.
Why CPS 234 / Benefits
- Improve your organisation’s risk posture.
- APRA CPS 234 provides organisations with a targeted approach to defending against the most prevalent cyber threats. The controls concentrate on safeguarding the areas of businesses most frequently targeted and on reducing the consequences of successful attacks.
- Regulatory Compliance
- Ensure compliance with APRA CPS 234 requirements to reduce the risk of penalties and legal issues.
- Improved Customer Trust
- Demonstrate your commitment to information security to build trust with customers and stakeholders.
- Operational Efficiency
- Streamline your security processes and improve operational efficiency through well-defined policies and procedures.
- Competitive Advantage
- Gain a competitive edge by showcasing your readiness for APRA CPS 234 and attracting new business opportunities and partnerships.
Cyberverse Approach
Adherence to APRA CPS 234 is essential for financial institutions and organisations regulated by the Australian Prudential Regulation Authority (APRA). At Cyberverse, we specialise in guiding you through the APRA CPS 234 compliance process with our comprehensive APRA CPS 234 Compliance Assistance service.
Our service is designed to help your organisation prepare for APRA CPS 234 compliance by providing expert support and practical solutions.
Whether starting at the foundational level or improving the Cyber posture, we collaborate closely with your team to ensure your APRA CPS 234 program is both effective and sustainable.
- Understand your ‘Why’?
- APRA CPS 234 Assessment & Recommendations
- Technical Report
- Advisory Support with APRA CPS 234 Implementation
- Training & Awareness Programs
- Ongoing Monitoring & Review
- Tailored Uplift Roadmaps
- Alignment with Government & Industry Expectations