Crypto Realm News: Australia’s highest prudential regulator said it will take action against companies that fail to adequately control cyber security threats. The regulator is finalizing a plan to oversee artificial intelligence (AI) risks. In previous reviews of banks, insurance companies, and pension funds, it found multiple deficiencies. The regulator said these issues include information security practices that are difficult to keep up with and adequately respond to threats posed by AI, as well as an excessive reliance on third-party AI suppliers. The regulator said: “If an organization fails to properly identify, manage, or control AI risks in a proportionate manner based on its size, business scope, and complexity, we will take stronger regulatory action and, where appropriate, pursue enforcement.”