Professional Services Firm Ernst & Young’s Global Head of Information Security has highlighted several weaknesses in Australia’s banks, calling their security measures “soft” for cyber criminals. Although Australian banks have experienced fewer criminal attacks than the United States and other European countries, our readiness for such an attack is in question.

The head of Queensland’s Fraud and Cybercrime department has called on banks and credit card companies to share information with the police to combat fraud and cyber attacks. Transactions on stolen credit cards have more than doubled in 2013.

Read more about this on the Age website.

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