What It Is

ISO/IEC 27032:2023 – Cybersecurity – Guidelines for Internet Security – is an international guidance standard providing non-certifiable recommendations for managing Internet security risks. It focuses on cyberspace as a multi-layered ecosystem, emphasizing collaborative, risk-based approaches to connect information security, network security, Internet security, and critical infrastructure protection.

Key Components

• Thematic domains like risk assessment, incident management, stakeholder roles, technical controls.
• Annex A mapping Internet threats to ISO/IEC 27002 controls.
• Built on multi-stakeholder collaboration and PDCA cycle.
• No fixed controls; integrates with ISO 27001 ISMS via Statement of Applicability.

Why Organizations Use It

• Reduces ecosystem risks, improves resilience, shortens incident response.
• Enhances trust, competitive edge, regulatory alignment (e.g., NIS2).
• Strategic benefits: efficiency, market access, insurance savings.

Implementation Overview

• Phased: gap analysis, risk assessment, controls deployment, monitoring.
• Applies to all sizes with online presence; uses existing frameworks.
• No certification; self-assessed via audits and continuous improvement. (178 words)

What It Is

APRA Prudential Standard CPS 234 (Information Security) is a mandatory regulation for Australian financial institutions regulated by APRA, including banks, insurers, and superannuation funds. Effective from 1 July 2019, it requires entities to maintain information security capabilities commensurate with threats and vulnerabilities, minimizing impacts on confidentiality, integrity, and availability (CIA) of information assets, including those managed by third parties. It adopts a risk-based, assurance-driven approach focused on governance and resilience.

Key Components

• Board ultimate responsibility and defined roles/responsibilities
• Asset classification by criticality and sensitivity
• Commensurate controls across full asset lifecycle
• Systematic testing program and internal audit assurance
• Incident response plans with annual testing
• Strict APRA notifications: 72 hours for material incidents, 10 business days for unremediable weaknesses Principle-based, no fixed control count; aligns with ISO 27001/NIST.

Why Organizations Use It

Legally required to avoid enforcement, penalties, and supervisory actions. Drives cyber resilience, third-party risk management, stakeholder protection, and operational continuity. Enhances trust, reduces incident impacts, and supports prudential stability.

Implementation Overview

Phased: gap analysis, governance/policies, asset inventory, controls/testing, third-party assessments. Applies to all sizes of APRA entities; no formal certification but requires evidence for audits. (178 words)