finance.yahoo.com

Bendigo Bank faces APRA penalty over Alliance Bank cyber authentication failures

Bendigo and Adelaide Bank logoBendigo and Adelaide Bank
Sig4.10Sen-5.20Env0.00Soc-4.00Gov-7.40

Bendigo and Adelaide Bank admitted failures in online banking authentication after a 2023 cyber incident hit its Alliance Bank unit. APRA found weak password rules, shared passwords across customers and design issues that helped identify valid customer IDs, leading to 286 unauthorised transactions worth about A$490,000 affecting 87 customers. APRA and the bank proposed an A$8m pecuniary penalty, court approval pending, and said affected customers were reimbursed; RACQ Bank customers will transfer to Bendigo subject to regulatory approval.

Coverage (1)

ABOUT

What is Fimmer?

Most feeds treat all company headlines the same. An executive interview, an office closure, stock analysis, and a data breach can sit side by side with no sense of scale. Fimmer ranks coverage by what matters, so important events stand out and signals are prioritised over noise. We cluster related company news and score each story using a range of metrics, so you see the most crucial stories first.

SCORING

What do the scores mean?

Significance (0–10) measures the scale of the real-world impact. Sentiment and ESG (−10 to +10) indicate the tone of the coverage and whether the change relates to environmental, social, or governance factors. Together, these scores help distinguish meaningful developments from routine company news. More information about our scoring methodology can be found on our About page.

DISCOVERY

Explore more on Fimmer

Search more than 10,000 public companies, browse the company index, explore their scores, and read the coverage behind them, with our core features available to everyone for free.

For more advanced features, Pro gives you access to dynamic feeds, custom sorting, and more ways to track the companies that matter to you.

More with Pro