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Cyber Security Stakeholder Group key messages 20 June 2022

Summary of key topics discussed at the Cyber Security Stakeholder Group meeting 20 June 2022.

Last updated 6 July 2022

Chartered Accountants Australia and New Zealand

In a landmark decision, the Federal Court has found that a failure to adequately manage cybersecurity risks constitutes a breach of general Australian financial service license obligations. legislation passed by the Federal Court will now hold Australian financial service licensees legally responsibility for their cyber security defence.

The decision demonstrates the importance of cyber security and the requirement to effectively consider your cyber security risk and posture. You can find more detail in the Australian Securities and Investments Commission media releaseExternal Link.


The ATO continues to see a high level of email and SMS ATO impersonation scam reports with fake 'myGov' login phishing sites being the top reported scam.

The ATO continues to be proactive in our scam education and awareness campaign in the lead up to tax time. A media release and associated social media has been issued to the community on what to look out for during tax time and how to protect yourself and your business from scams.

Australian Cyber Security Centre

The June ‘Act Now Stay Safe’ campaign theme is focussed on Business Email Compromise (BEC) with information, advice and a ‘quiz’ to help you identify BEC on the Australian Cyber Security Centres (ACSC) website.

With the end of financial year coming to a close, additional caution is required from the community, and small business. The ACSC has helpful guides and advice on how to stay safe this time of year, with some simple things you can do to apply good cyber security practices and avoid tax time scams. You can find more information at Tips to Stay Secure Online at Tax Time.