Financial Crimes Protection Initiative
The Financial Crimes Protection Initiative is a coordinated effort led by ASFA to bolster the superannuation sector's defences against financial crime and cybersecurity breaches.
With increasingly sophisticated threats facing the superannuation sector, ASFA’s unique membership base of funds and critical service providers is working to protect fund members’ data and savings.
The FCPI brings together the superannuation sector, relevant government agencies and related bodies in the fight against cyber criminals.
Working together to protect members’ savings
Our focus areas:
- Enhance collaboration and knowledge sharing between funds and critical service providers including custodians, administrators and tech providers
- Develop industry-wide frameworks to combat financial and cybercrime
- Connect the superannuation sector, relevant government agencies and related financial services bodies
- Help make Australians aware of the actions they can take to protect their super and data from scammers
Cyber Security Toolkit
Developed to support trustees navigating a rapidly evolving cyber risk landscape, this Toolkit brings together the key legal and prudential requirements that apply to superannuation entities in relation to operational risk, information security and privacy. It outlines core legal and prudential obligations, and provides practical guidance on how these requirements can be applied within fund operations. The Toolkit also includes advice on incident response, governance considerations and consolidated references to relevant frameworks to help trustees strengthen their cyber resilience.
Please find the Cyber Security Toolkit here.
Minimum Fraud Controls for Superannuation Funds
This guidance supports trustees in addressing financial crime risks by outlining a consistent baseline of fraud controls for the superannuation sector. Drawn from recent sector learnings and evolving risk patterns, it provides practical direction on designing, implementing and reviewing internal controls that prevent and detect fraud. Trustees are encouraged to adapt the guidance to reflect their operating model and risk profile, ensuring their fraud management approach remains fit-for-purpose and responsive to a changing threat environment.
Please find the Minimum Fraud Controls for Superannuation Funds here.
ASFA Scams and Fraud Toolkit
Developed to support trustees navigating a complex and evolving regulatory environment, this Toolkit brings together the key legal and prudential requirements relating to scams and fraud. It also provides practical guidance to help trustees design effective controls and respond confidently to incidents.
Please find the Scams and Fraud Toolkit here.
ASFA Scams Prevention Policy Template
This template serves as a practical foundation for developing a fund’s scams strategy and internal policy. Trustees are encouraged to adapt the template to reflect their operational model and risk profile, and to obtain independent legal advice as required.
Please find the Scams Prevention Policy Template here.
Stay informed
In the coming months, ASFA will continue to work closely with members to lead this sector wide initiative.
For more information about how you can get involved or for further information, please contact us