APRA CPS 234
Australian prudential standard for financial information security resilience
CIS Controls
Prioritized cybersecurity best practices framework
Quick Verdict
APRA CPS 234 mandates information security resilience for Australian financial entities with strict notifications and board accountability, while CIS Controls offer voluntary, prioritized safeguards for global organizations seeking practical cyber hygiene and compliance alignment.
APRA CPS 234
APRA Prudential Standard CPS 234 Information Security
Key Features
- Board ultimate responsibility for information security
- 72-hour APRA notification for material incidents
- Covers all third-party managed information assets
- Systematic independent testing and internal audit
- Risk-based asset classification by criticality sensitivity
CIS Controls
CIS Critical Security Controls v8.1
Key Features
- 18 prioritized controls with 153 actionable safeguards
- Implementation Groups IG1-IG3 for scalable adoption
- Technology-agnostic, maps to NIST, PCI, HIPAA
- Focus on asset inventory and vulnerability management
- Community-driven from real-world attack data
Detailed Analysis
A comprehensive look at the specific requirements, scope, and impact of each standard.
APRA CPS 234 Details
What It Is
APRA Prudential Standard CPS 234 (Information Security) is a binding regulatory standard issued by the Australian Prudential Regulation Authority, effective 1 July 2019. It mandates APRA-regulated financial entities maintain information security capabilities commensurate with threats to minimize impacts on confidentiality, integrity, and availability of information assets, including those managed by third parties. Its risk-based approach emphasizes governance, assurance, and rapid notification.
Key Components
- **Governance pillarsBoard accountability (paragraph 13), defined roles (14), policy framework (18-19).
- **Risk managementAsset classification by criticality/sensitivity (20), commensurate controls (21).
- **AssuranceSystematic testing (27-31), internal audit reviews (32-34).
- **Incident responseDetection mechanisms (23), annual plan testing (26), 72-hour APRA notifications (35-36). No fixed control count; focuses on outcomes with third-party extensions.
Why Organizations Use It
Ensures prudential compliance for ADIs, insurers, super funds; mitigates cyber risks to operations and customers; enables resilience amid outsourcing. Builds board oversight, reduces incident impacts, enhances trust.
Implementation Overview
Phased: gap analysis, asset inventory/classification, control/testing programs, third-party assessments. Applies to all sizes of APRA entities in Australia; no certification but APRA supervision/enforcement.
CIS Controls Details
What It Is
CIS Critical Security Controls (CIS Controls) v8.1 is a community-driven, prescriptive cybersecurity framework of prioritized best practices to reduce attack surfaces and enhance resilience. It focuses on actionable safeguards across hybrid and cloud environments, using a risk-based, tiered Implementation Groups (IG1-IG3) approach for scalable adoption.
Key Components
- 18 Controls with 153 Safeguards, covering asset inventory, data protection, access management, vulnerability management, logging, incident response, and penetration testing.
- IG1 (56 safeguards) for basic hygiene; IG2/IG3 for advanced maturity.
- Built on real-world attack data; maps to NIST, PCI DSS, HIPAA, ISO 27001.
- No formal certification; self-assessed compliance via tools like CIS RAM.
Why Organizations Use It
- Mitigates 85% of common attacks, cuts breach costs, accelerates regulatory compliance.
- Provides Safe Harbor in some U.S. states; boosts insurance rates, vendor trust.
- Delivers ROI via efficiency, risk reduction; essential for all industries/sizes.
Implementation Overview
- Phased roadmap: governance, discovery, foundational controls (IG1 3-9 months), expansion (6-18 months).
- Automate inventories, scanning, logging; suits SMBs to enterprises globally.
- No mandatory audits; uses KPIs, pen tests for validation. (178 words)
Key Differences
| Aspect | APRA CPS 234 | CIS Controls |
|---|---|---|
| Scope | Information security governance and cyber resilience | Prioritized cybersecurity best practices and safeguards |
| Industry | Australian financial institutions (ADIs, insurers, super) | All industries worldwide, any organization size |
| Nature | Mandatory prudential standard with enforcement powers | Voluntary, consensus-driven best practices framework |
| Testing | Systematic testing, internal audit, annual response plan tests | Risk-based testing via Implementation Groups IG1-IG3 |
| Penalties | Supervisory actions, directions, penalties, license risks | No formal penalties, reputational and operational risks |
Scope
Industry
Nature
Testing
Penalties
Frequently Asked Questions
Common questions about APRA CPS 234 and CIS Controls
APRA CPS 234 FAQ
CIS Controls FAQ
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