Minute to midnight: ASIC Commissioner Simone Constant on cyber risk and enforcement in the age of frontier AI
The Cyber BriefShow Notes
As AI drives an escalation in cyber threats, ASIC is sharpening its focus on how organisations manage cyber risk. Valeska and co-host Kate Austin are joined by ASIC Commissioner Simone Constant, author of an open letter issued by ASIC calling for urgent cyber uplift across industry. Simone shares what’s driving the regulator’s heightened concern, what 'reasonable' and 'proportionate' cyber measures look like in practice, and ASIC’s expectations for meaningful board engagement. She also reflects on proposed changes to continuous disclosure and discusses the challenges facing multinational organisations with offshore cyber functions. If you’re navigating cyber risk in an AI-driven environment, this episode offers practical insights for boards and management alike. Resources from this episode: Board and management briefing: preparing for Mythos-class threats ASIC's open letter to AFS licensees and market participants Simone's series recommendation: Peaky Blinders
More from The Cyber Brief
Insider incidents have steadily increased in recent years, but there's one threat that's causing particular concern: North Korean operatives posing as remote IT workers, quietly embedded inside legitimate organisations. In this episode, Valeska and co-host Sonia Millen are joined by Ryan LaSalle, CEO of Nisos, a US-based human risk intelligence firm specialising in insider threats, employment fraud and executive digital risk. Ryan shares the extraordinary story of how Nisos uncovered and infiltrated a North Korean remote IT worker fraud operation after a suspected operative applied for a role at the company, ultimately exposing a network of more than 20 workers employed across multiple US organisations. Ryan explains how these operations work, the warning signs organisations should look for throughout the hiring and employment lifecycle, and why remote work has created new opportunities for nation-state actors and organised crime groups. Resources from this episode: Defending from within: a guide to insider threat management Advisory note – DPRK information technology workers, 31 July 2026. Joint statement on DPRK IT workers | Australian Government Department of Foreign Affairs and Trade, 31 July 2026. Cyber risks of DPRK IT Workers, 6 November 2025. Exposing DPRK Employment Fraud Operations and People, Process, Personas: Nisos Exposes the Human Risk in DPRK Employment Fraud Schemes Ryan's book recommendations: This is How They Tell Me the World Ends by Nicole Perlroth, Snow Crash by Neal Stephenson and Cryptonomicon by Neal Stephenson.
Within just a few years, quantum computers could render today's encryption obsolete, exposing sensitive data and disrupting critical systems. In this episode, Valeska and co-host David Rountree are joined by Dr Vikram Sharma, Founder and CEO of QuintessenceLabs, to unpack what these advances mean for cyber risk management. Vikram explains why post-quantum transition timeframes are accelerating, what boards and executives should be doing to prepare, and why the transition will be more complex than a simple technology upgrade. Valeska, David and Vikram also discuss 'harvest now, decrypt later' attacks, why post-quantum readiness is—at its core—a governance issue, and the need to build crypto agility into future systems. Resources from this episode: Preparing for the post-quantum era of security Stay ahead of the quantum threat with post-quantum cryptography | Cyber.gov.au Guidelines for cryptography | Cyber.gov.au Vikram's author recommendation: Yuval Harari Vikram's TED talk: How quantum physics can make encryption stronger
In part two of our conversation, former Prime Minister Malcolm Turnbull joins Valeska and Dominic to discuss the state of Australia's cyber startup landscape, the role of private capital and the policy settings needed to support high-growth cyber businesses. Is Australia doing enough to support its cybersecurity startup ecosystem? How can we translate innovation into genuine sovereign capability? What will it take to keep Australia's best talent and most promising companies onshore? Resources from this episode: Part one of our conversation with Malcolm Turnbull Allens Accelerate, our legal practice dedicated to supporting the Australian startup and emerging companies community.
Former Prime Minister Malcolm Turnbull joins Valeska and co-host Dominic Anderson for the first of a two-part discussion about cybersecurity as national security in Australia. As the 29th Prime Minister of Australia, a former lawyer, technologist, and now backer of some of the most interesting cyber companies worldwide, Malcolm brings a perspective on cybersecurity shaped by experience on every side of the problem. In this episode, Malcolm shares his views on Australia's cyber strategy, offensive cyber capabilities, escalation risk in cyber conflict, the future of Five Eyes cooperation, and whether Australia can build a genuinely sovereign cyber capability. Resources from this episode: National security at Allens
Bank-grade cybersecurity is considered the gold standard of cyber best practice, but what does it look like in reality, and what can other organisations learn from it? Valeska and co-host Isabelle Guyot are joined by Martijn Verbree, Chief Information Risk Officer at The Commonwealth Bank. Martijn shares his approach to balancing innovation with security, staying ahead of the curve in a constantly evolving threat environment, and managing cyber risk at Australia's largest bank. He also shares practical insights on working with boards, the importance of multi-layered security testing, and the risks and opportunities posed by AI. If you've ever wondered what's keeping our protectors up at night, this conversation is for you. Resources from this episode: Martijn's podcast recommendation: Risky Business