Cyber attacks a growing risk to our financial security, says Reserve Bank

It seems that a new cyber attack hits the news each day, and now, the Reserve Bank of Australia has found they threaten our financial security.

The Financial Stability Review was released by the Reserve Bank this month. Within it, the institution warns cyber attacks pose a “significant threat” to our financial system.

Let’s look closer into what the Reserve Bank of Australia had to say about the threat of cyber attacks.

Cyber attacks are on the rise globally

The Reserve Bank noted in its report the rising risk and occurrences of cyber attacks on Australia’s financial institutions.

In fact, Australian banks face millions of cyber…