Australian banking regulator warns geopolitical tensions could lead to more cyber attacks

SYDNEY, Aug 21 Reuters - Australias prudential regulator has cautioned that the countrys banking system is facing increasing risk of cyberattacks as a result of escalating geopolitical tensions.Australian Prudential Regulation Authority APRA chair John Lonsdale said the regulator would increase its work with the countrys banks in the year ahead to combat the potential for more cyberattacks.The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here.APRA, in an annual report, did not identify countries it believed could be behind the cyberattacks.Advertisement Scroll to continueReport This AdOperational systems in financial institutions are increasingly vulnerable to technology outages and malicious cyber-attacks, Lonsdale said in the report.The risk environment for cyberattacks could worsen further in the context of escalating geopolitical tensions.APRA said the growing use of artificial intelligence was also an emerging risk the banking sector