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Only a matter of time before a major bank is successfully hacked: RBA

Ronald Mizen

A successful cyber raid on a major financial institution is inevitable, the Reserve Bank of Australia says, and it could result in serious instability across the financial sector.

The central bank is the latest regulator to re-enforce the growing threat from cyberattacks after the Australian Securities and Investments Commission elevated the issue in its latest statement of intent.

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Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com

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    Original URL: https://www.afr.com/politics/federal/only-a-matter-of-time-before-a-major-bank-is-successfully-hacked-rba-20211008-p58yj3