Super funds seek ACCC approval to team up on cyber risks before Anthropic unleashes Mythos — Capital Brief
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The superannuation sector is trying to protect itself from cyber attacks in the age of AI but it needs the green light from regulators.
Association of Superannuation Funds of Australia chief executive Mary Delahunty.
Supplied.
Australia’s largest super funds have taken the extraordinary step of seeking regulatory approval to share sensitive intelligence as concerns mount over rising cybersecurity risks from Anthropic’s powerful new AI model Mythos.
Capital Brief can reveal the industry’s peak body the Association of Superannuation Funds of Australia (ASFA) is seeking authorisation from the ACCC to allow the super sector to share criminal intelligence and co-ordinate their responses to cyber attacks as they try to protect Australian retirement savings from bad actors.
If granted by the competition regulator, the application — unreported until now — would allow Australian super funds to alert each other to specific cyber attacks they’ve identified and allow the industry to collectively respond, significantly increasing their ability to manage emerging fast-moving threats.
ASFA’s membership base includes the biggest names in the $4.5 trillion sector including industry funds AustralianSuper, CBUS and Hostplus as well as retail providers such as AMP, MLC and Vanguard.
Topics:
Cybersecurity,
ACCC,
Regulation,
AustralianSuper,
Aware Super,
Colonial First State Super,
Unisuper,
Anthropic
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