Industry leaders urge businesses to prioritise cybersecurity basics
Australia’s top banks have reaffirmed their partnership with the federal government to enhance the nation’s cybersecurity, as chief security officers from NAB, ANZ, CBA and Westpac convened to share guidance for business owners.
At the Securing Australia Together event, held during Cyber Security Awareness Month, Sandro Bucchianeri, chief security officer at NAB, underscored the necessity of collective action.
“Cyber criminals don’t respect boundaries or legislation,” he said. “They move fast and use the same tools we do. That’s why we’re working together. Sharing intelligence and knowledge is our greatest defence as a nation. When we collaborate, we multiply our impact and can respond to threats more effectively than any one organisation alone.”
The panel, organised with the Department of Home Affairs, outlined how banks and government agencies are exchanging real-time threat information and coordinating responses to safeguard Australians during ongoing attacks.
Addressing more than 1,000 business banking clients, Michelle McGuinness, national cyber security coordinator at the Department of Home Affairs, reiterated the importance of building cyber resilience.
“The best protection you can offer your business is to raise the consciousness of your people around what are good cyber health practices,” she said. “Because cybersecurity is everyone’s business.”
The security leaders recommended three key measures for businesses: adopt strong, unique passphrases for each account; keep all software updated and enable automatic updates; and activate multi-factor authentication wherever feasible.
“These basics may not be as exciting as AI or quantum computing, but nine out of 10 cyber incidents happen because the fundamentals were missing,” Bucchianeri said. “If you get the basics right, you go a long way in protecting yourself and your organisation.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
