Regulator Tells Australian Banks to Boost Cyberattack Defenses
- Cyber resilience examination found ‘lack of rigor,’ APRA says
- Call for improvement comes after recent spate of attacks
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Australia’s financial institutions must improve their resilience to cyberattacks, the head of the nation’s banking regulator said Tuesday.
A recent review uncovered a “lack of rigor” in the nature and frequency of security control testing and insufficient board oversight on cyber, John Lonsdale, chair of the Australian Prudential Regulation Authority said.