cyber security

Noting that ransomware incidents have become increasingly prevalent in the financial services sector, the Federal Financial Institutions Examination Council has released an update to its Cybersecurity Resource Guide for Financial Institutions – a publication that was last updated in October 2018. Read our update here.

It has been 3 months since Australia’s Notifiable Data Breach Scheme (NDB Scheme)[1] came into force and, already, the Office of the Australian Information Commissioner (OAIC) is receiving many notifications of cyber-attacks and other data breaches – both voluntarily and under the NDB Scheme.

We will see even greater awareness

Recent instances of cyber-attacks targeting third party service providers of government agencies and private sector organisations have coincided with the latest release of the Australian Cyber Security Centre (ACSC)’s 2017 Threat Report.

This report comes as a timely reminder of the ongoing digital threats to organisations, such as those in the financial services