To help address the risk posed from cyber-attacks the
Australian Prudential Regulation Authority (APRA) has published a
suite of measures to assist APRA-regulated entities minimising the
likelihood and impact of cyberattacks and information security
incidents.
Cyber-attacks are increasing in frequency and impact with
perpetrators of such attack continuously refining their skills to
access information, networks and systems world-wide. Those in the
financial sector should be especially wary of such attacks, with
APRA Executive Board Member Geoff Summerhayes warning that
'Australian financial institutions are among the top
targets of cyber criminals seeking money or customer data, and the
threat is accelerating'.1
