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Insurance Business | 13 Mar 2018, 05:27 AM Agree 0
"It is easy to envisage a scenario in which a cyber breach could potentially damage an entity so badly that it is forced out of business"
  • Tony | 13 Mar 2018, 09:44 AM Agree 0
    I agree with APRA that Australian Financial institutions are an obvious Cyber target. I do think they are missing part of the argument around what happens to the credit risk of a financial institution, banks in particular, if a large proportion of their customer base (particularly SME borrowers) suffer a cyber event at the same time. The inability of a large number of SME's complying with their debt obligations as a result of a Cyber event is a real risk and one that has largely gone unaddressed by both regulators and the Institutions themselves.
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