Why effective IT security is critical for Australia’s financial services sector

Joanne Wong

Of all the areas of business experiencing rising levels of cyber-security threat, the one attracting the most attention from criminals is the financial services sector.

Australia’s banks and credit card companies are coming under increasing attack as cyber criminals come to understand the value of the data that these organisations create and retain. Indeed, financial data is among the most lucrative data types and can be used to access accounts, copy payment cards, and make fraudulent purchases.

However, while financial services institutions find themselves under attack more frequently than ever, it is still possible to remain at the forefront of the digitisation of the industry and maintain effective security.

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