If you’re SOCI and you know it, clap your hands!

The Security of Critical Infrastructure (SOCI) Act in Australia represents a significant step forward in protecting the nation's essential assets and services. Enacted in 2018 and subsequently amended in 2021 and 2022, the SOCI Act aims to ensure the resilience and security of critical infrastructure across 11 key sectors. This comprehensive legislation safeguards Australia's society, economy, and national security from potential disruptions and threats.  

While the SOCI Act is undoubtedly a positive development, there are concerning gaps in awareness and compliance among companies covered by the legislation. With several CRG’s recent engagements, we have found that many organisations are unaware that they are subject to the SOCI obligations and have responsibilities under the Act. This potentially leaves critical infrastructure vulnerable to risks and their business to significant fines.  

The scope of the SOCI Act is not well understood by those caught in the net. Broader than Cyber risk, it covers a number of areas, including Physical, Personnel, and Supply chain risks. Companies failing to address these non-cyber aspects may inadvertently expose themselves and, by extension, Australia's critical infrastructure to significant risks.  

To address these issues and ensure comprehensive compliance with the SOCI Act, companies should take the following six steps:  

1. Conduct a thorough assessment: Organisations should evaluate their operations to determine if they fall under the SOCI Act's purview.  

2. This assessment should cover all aspects of their business, not just IT systems.  

3. Develop a holistic risk management program: Companies must create a Critical Infrastructure Risk Management Program (CIRMP) that addresses cyber, physical, personnel, and supply chain risks.  

4. Implement regular reporting and incident response protocols: Establish mandatory cyber incident reporting protocols and develop incident response plans.  

5. Invest in training and awareness: Educate all employees about the SOCI Act's requirements and their role in maintaining compliance.  

6. Leverage existing frameworks: Organisations with established security frameworks and certifications can use this as a foundation for SOCI compliance, adapting and expanding their security practices as needed.  

7. Embrace digital solutions: Implement automated compliance management systems to streamline reporting, monitor risks in real time, and reduce administrative burden.  

Professional assistance can be invaluable for companies struggling to navigate the complexities of SOCI compliance. Our business specialises in helping organisations comply with the SOCI Act. We offer comprehensive services, including:  

• Readiness assessments to evaluate your current compliance status  

• Gap analysis to identify areas needing improvement  

• Development and implementation of tailored risk management programs  

• Training and education for your staff  

• Ongoing support and monitoring to ensure continued compliance  

By partnering with our experienced team, you can ensure that your organisation meets its obligations under the SOCI Act and enhances its overall security posture and operational efficiency. This proactive approach will contribute to the resilience of Australia's critical infrastructure while safeguarding your business against potential threats and regulatory penalties.