Australia’s banking and financial services sector is undergoing a rapid digital transformation amidst a growing consumer appetite for convenient, fast and secure interactions and the emergence of open banking. A report by the Australian Banking Association revealed that 98.9% of bank transactions now take place digitally. This shift to digitisation has exposed new risks for the current cybersecurity landscape in the financial services industry. Recently, National Australia Bank’s general manager of group investigations, Chris Sheehan, revealed in an interview that Australia’s major banks are under constant attack as cyber criminals look for ways to infiltrate the banks' computer systems and compromise ...