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Why regulators are targeting board execs for cyber security failures

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After high profile data breaches of companies like Australia’s Optus, regulators are targeting boardroom execs for their roles in the failures.

The Australian Securities and Investments Commission (ASIC) is set to hold boards and executives accountable for cybersecurity lapses, according to reporting by the Australian Financial Review.

In a groundbreaking move, ASIC plans to penalise companies and their leadership for failing to protect sensitive data adequately.

Recent cyberattacks have exposed vulnerabilities across various sectors, prompting ASIC to take proactive measures. Under new regulations, boards and senior management will be legally obliged to implement robust cybersecurity protocols. Failure to do so could result in substantial fines and personal liability for corporate leaders.

ASIC Chairperson, Sarah Anderson, stated, “The increasing frequency of cyberattacks poses a severe threat to Australia’s financial stability. It’s imperative that corporate decision-makers prioritize cybersecurity as a fundamental business function.”

This regulatory shift aims to foster a culture of cyber resilience in organisations, encouraging investment in cutting-edge technologies and staff training. Companies will need to demonstrate their commitment to safeguarding sensitive data, or face severe consequences.

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Apple removes generative ‘AI’ apps used to make deepfake nudes

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Deepfakes are incredibly realistic, making it difficult to distinguish between real versus manipulated media.

Apple has removed several generative AI apps from the App Store after an online publication discovered the apps could be used to create nonconsensual nude images.

The number of deepfake porn images and videos has rapidly grown on social media—even ensnaring unsuspecting teens as well as public figures like Taylor Swift.

Oz Sultan, the Chief Strategist with the Sultan Interactive Group joins Veronica Dudo to discuss.

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Will Boeing’s $10B debt offering help it soar?

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Boeing has reportedly turned to the debt market, aiming to raise $10 billion in a bid to strengthen its financial position.

On this episode of Hot Shots – Boeing turn to the debt market, Paramount CEO leaves, Elon Musk makes an EV breakthrough in China and Apple strikes back against explicit AI app.

Ticker’s Ahron Young and Veronica Dudo discuss.

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New U.S. pilot training program aims to increase pilot diversity and solve shortages

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A partnership is encouraging, recruiting, and educating future African-American pilots with first-rate in-classroom and in-flight instruction.

Leadership In Flight Training Academy – one of the largest flight academies in America – and Tuskegee University – a historically black college – unveiled a new partnership to develop a state-of-the-art flight training program that will prepare the next generation of aspiring pilots from the University for a career in the airline industry.

The program will begin in the Fall of 2024 at the historic Moton Airfield where the legendary Tuskegee Airmen trained.

Matt Koscal, the Executive Vice President and Chief Administrative Officer of Republic Airways Holdings Inc. joins Veronica Dudo to discuss.

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