The Australian Prudential Regulatory Authority has warned that it is increasing its oversight of the banking system and financial institutions can

← Back to Blog

The Australian Prudential Regulatory Authority has warned that it is increasing its oversight of the banking system and financial institutions can expect tougher action for regulatory breaches. Following the implementation of CPS 234 (https://lnkd.in/e7dyG9x) earlier this year the regulator has seen a significant increase in the number of reported data breaches across its 600 covered entities. Which has caused concern.

Which does raise a few questions, namely has the enforcement regime caused banks to report the breaches, due to the penalties. Or has their been an increase in the frequency of attacks on Australians banks, or both.

Whichever it is the regulator is changing its stance and enforcement action will increase.

View Original Post
https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A6599925270927470592