FIIG Securities Fined $2.5M for Cyber Security Breach Affecting Client Data

FIIG Securities Limited has been ordered to pay $2.5 million in penalties by ASIC due to its failure to protect client data from cyber security threats over a period of more than four years. The breach, which occurred in 2023, resulted in the theft of approximately 385 gigabytes of sensitive information, including personal identification details of tens of thousands of clients, which were leaked onto the dark web.