[ICORP Security]

This is a massive step forward, establishing a true ‘ecosystem’ approach across banking, telcos, and tech. The creation of a regulatory structure involving both the ACCC and ASIC is smart, but I foresee significant challenges in implementation and cross-sector coordination. Defining ‘reasonable steps’ for prevention, detection, and disruption—and enforcing compliance consistently across different sectors—will be key. The implementation and enforcement clarity needs to come quickly to prevent regulatory arbitrage.

[Author]

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