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FIIG Securities Fined AU$2.5 Million Following Prolonged Cybersecurity Failures

Australian fixed‑income firm FIIG Securities was hit with a AU$2.5 million civil penalty after the Federal Court found it failed to protect client data for over four years. A 2023 ransomware attack exfiltrated roughly 385 GB of personal and financial information belonging to about 18,000 clients. The court also ordered a AU$500,000 contribution to ASIC’s enforcement costs and mandated a compliance program overseen by an independent cyber‑risk expert. This marks the first time a civil fine has been imposed for cybersecurity breaches under an Australian Financial Services licence.

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