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Multi-million-dollar FIIG penalty a “clear warning to all financial organisations,” expert says

Cybersecurityconnect.Au • February 16, 2026

“Cyber security is not an IT issue; it is a board-level governance obligation,” says Trend Micro’s Field CISO, ANZ, Andrew Philp, following a court-imposed penalty against Australia-based financial firm FIIG Securities.

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FIIG Securities Faces Multi-Million-Dollar Penalty for Cybersecurity Governance Failures FIIG Securities, an Australia-based financial firm, has been imposed a multi-million-dollar penalty by the court due to cybersecurity governance failures. Trend Micro’s Field CISO for ANZ, Andrew Philp, emphasized that cybersecurity should be treated as a board-level governance obligation rather than just an IT issue. 1 sources 31

Multi-million-dollar FIIG penalty a “clear warning to all financial organisations,” expert says

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