The Reserve Bank calling for improvements to cyber security at banks. Photo / RNZBy RNZThe Reserve Bank is taking steps to ensure banks and other regulated financial services improve their cyber security. Reserve Bank deputy governor Geoff Bascand - responsible for financial stability - said improving cyber resilience had become a key priority for regulators around the world. "As cyber risk continues to rise, there is growing awareness that cyber incidents could present risks to the stability of the entire financial system," Bascand said. "Last November we announced an evolution in our policy stance towards taking a more proactive interest in improving the cyber resilience of the financial sector in New Zealand."

Source: New Zealand Herald October 19, 2020 23:48 UTC