News

New data security regs; RBA hike 25bps; ASIC sues Latitude; RBT final report

“Banks will have to comply with strict requirements to receive customer identification details from Optus to guard against fraud”

“The whole industry has worked closely with the Australian Government to make today’s regulations possible.”

At its meeting today, the Board decided to increase the cash rate target by 25 basis points to 2.60 per cent. It also increased the interest rate on Exchange Settlement balances by 25 basis points to 2.50 per cent.

The West Australian reports that the CFR is calling for ‘more transparency’ in de-banking.

Australian banks understand that there are still customers who need face-to-face services

“The banks and other financial institutions have done a mountain of work, to protect their customers,”

The AFP and state and territory police have set up Operation Guardian to supercharge the protection of more than 10,000 customers whose identification credentials have been unlawfully released online under the Optus data breach.

“Aspiring home buyers should contact a participating lender to discuss their circumstances.”  

Protecting customers’ information and funds is the highest priority for banks.

The cost of shipping goods from China has slumped to the lowest level in more than two years.

The pound plunged almost 5% to an all-time low after Kwasi Kwarteng vowed to press on with more tax cuts, stoking fears that the new Chancellor of the Exchequer’s fiscal policies will send inflation and government debt soaring.