The Australian Prudential Regulation Authority (APRA) has sent a directive to all entities under its regulation, stressing the importance of data backups in ensuring cyber resilience. This directive is part of APRA’s broader strategy to enhance cyber resilience across the industry, as highlighted in its Interim Policy and Supervision Priorities update.
APRA’s recent announcement underscores the critical importance of robust backup strategies for Australian businesses, particularly those operating within the regulated sector. The regulator’s heightened scrutiny of cyber resilience highlights the need for organisations to prioritise data protection and recovery as integral components of their overall security posture.
The Importance of Effective Backups
APRA’s findings are clear: while many organisations have backup systems in place, the effectiveness of these systems in real-world incident scenarios is often lacking. This has become a significant concern, as data loss can have severe financial, reputational and operational consequences.
To mitigate these risks, organisations must implement comprehensive backup strategies that address the following:
Regular and Consistent Backups: Ensure frequent backups of critical data and systems.
Segregation: Protect your data from physical threats by keeping backup data separate from production data. This ensures that if the production environment is compromised, your backups remain secure.
Security Controls: Regularly verify backup effectiveness, ensuring they are protected from unauthorised access, modification or alteration.
Testing and Validation: Regularly test the recovery of critical business systems to ensure they can be restored within acceptable business tolerance levels.
AUCloud: Your Partner in Cyber Resilience
AUCloud offers a range of services designed to help organisations strengthen their cyber resilience and comply with regulatory requirements. Our expert team can conduct comprehensive cyber security and backup assessments to identify vulnerabilities and gaps in your existing infrastructure.
By leveraging our in-depth knowledge of the Australian regulatory landscape and best practices, we can develop tailored solutions to address your specific needs. Complemented by our secure sovereign cloud platform, we provide a robust foundation for data protection and recovery, ensuring the highest levels of security and compliance.
Don’t Wait for a Crisis
APRA’s directive serves as a timely reminder that proactive measures are essential for protecting your organisation from cyber threats. By investing in robust backup solutions and conducting regular assessments, you can reduce the risk of data loss and operational disruption. AUCloud is committed to supporting Australian businesses in building a resilient cyber posture. Contact us today to learn more about how we can help you protect your organisation.
Disclaimer: This article is intended for informational purposes only and does not constitute legal or financial advice. It is recommended that organisations seek professional guidance to ensure compliance with applicable regulations.
