The financial regulator has received 36 data breach notifications since APRA’s new prudential standard for cybersecurity, known as CPS 234, came into effect in July this year. Sign up for Which-50’s Irregular Insights newsletter Most of the breaches were “relatively minor” and none threatened the “viability” of APRA regulated entities.
Global and local regulation is helping to concentrate boards’ attention on cyber security risks, according to industry experts. From today boards of APRA-regulated entities are ultimately responsible for ensuring that their organisation maintains its information security. The new prudential standard, CPS 234 Information Security, requires financial institutions clearly define the
Xinja is the latest Australian neobank to obtain its restricted banking licence from the Australian Prudential Regulation Authority (APRA). APRA today announced it has granted Xinja a restricted authorised deposit-taking institution licence (RADI). Introduced in May this year, the new category of licence means Xinja can call itself a bank