Navigating the SOCI Landscape: Insights and Solutions

In an era where safeguarding critical infrastructure is paramount, understanding and adhering to the Security of Critical Infrastructure Act 2018 (SOCI) is crucial. This legislation plays a vital role in protecting Australia's essential services against a myriad of threats. Let's delve into what SOCI entails, its key milestones, and how ReadiNow offers tailored solutions for compliance. 

Introduction to SOCI

SOCI was established to enhance the protection and resilience of Australia's critical infrastructure. It came into effect on July 11, 2018, and currently covers 11 crucial sectors, including communications, data storage and processing, defence industry, energy, financial services and markets, food and grocery, health care and medical, higher education and research, space technology, transport and water and sewerage. The Act aims to ensure that entities managing critical infrastructure are adequately safeguarding their assets and are prepared to respond to threats and vulnerabilities. 

SOCI's primary objectives are: 

1. Securing Assets: Ensuring that owners and operators of critical infrastructure take appropriate measures to protect and secure their assets. 
2. Information Sharing: Facilitating the flow of information between the private sector and the government, ensuring that the latter has the necessary data to address national security risks. 
3. Empowering Government Response: Providing the government with appropriate and proportionate powers to respond to national security risks associated with critical infrastructure. 

SOCI’s Key Components 

SOCI specifies three Positive Security Obligations (PSOs) for critical infrastructure entities: 

1. Register of Critical Infrastructure Assets: Ensuring a comprehensive list of assets is maintained. 
2. Reporting of Cybersecurity Incidents: Mandating timely reporting cybersecurity incidents to Australian Cyber Security Centre (ACSC). 
3. Critical Infrastructure Risk Management Program (CIRMP): Implementing a written program for managing material risks that specific types of hazards pose to critical infrastructure assets. 

Key Milestones

December 2021: Obligation to notify data service providers commenced. 

July 2022: Mandatory reporting of cybersecurity incidents began. 

October 2022: Requirement to register critical infrastructure assets. 

August 2023: Development and implementation of a written critical infrastructure risk management program (CIRMP). 

18 August 2024: Deadline to demonstrate compliance with CIRMP. 

28 September 2024: The first CIRMP annual report is due (90 days after the end of the 2024FY). 

ReadiNow’s Role in Facilitating SOCI Compliance

While SOCI compliance can be complex, ReadiNow simplifies this process, offering a comprehensive suite of solutions tailored to meet these regulatory requirements. As an experienced GRC and Cyber Security solutions provider, ReadiNow is adept at helping entities across various sectors achieve full compliance with SOCI. 

SOCI Solutions by ReadiNow

Gap Analysis and Strategic Planning

ReadiNow conducts thorough gap analyses to identify areas needing attention and assists in developing robust action plans for compliance. 

SOCI Uplift Program

Leveraging advanced technology, ReadiNow implements solutions to enhance your organization's compliance posture, aligning with SOCI requirements. 

Integrated Management Solution

With a focus on reducing complexity and risk, ReadiNow’s integrated solution ensures consistent adherence to SOCI obligations, offering executive-level insights through real-time dashboards, auto-generated CIRMP, and cybersecurity incident reports. 

No-Code Automation

ReadiNow’s platform facilitates effortless management of critical infrastructure assets, obligations, hazards, and material risks, cyber security incidents and vulnerabilities, streamlining the compliance process. 

The Security of Critical Infrastructure Act 2018 sets a comprehensive framework for protecting Australia’s critical infrastructure. Keeping abreast of its requirements and deadlines is essential for entities in the relevant sectors.

For those seeking to navigate these complexities, ReadiNow offers a tailored, technology-driven approach to ensure seamless compliance and enhanced infrastructure security. As threats evolve, staying ahead with a proactive, compliant strategy is key to safeguarding our critical infrastructure, with ReadiNow as your trusted partner in this journey. 

To learn more about how ReadiNow can help, get in touch with a member of our team.