Bendigo and Adelaide Bank admits to breaching its BEAR obligations
The bank admitted breaching its Banking Executive Accountability Regime obligations in connection with a 2023 cyber attack on its Alliance Bank business. A reminder that cyber incident handling can itself trigger accountability regime breaches.
What it means for business
Consider whether your cyber incident response plan maps clearly to named accountable persons under BEAR or FAR.
What does this mean for your business?
If this development touches your contracts, compliance or reporting, it may be worth a short conversation. Get in touch through our contact page and a senior lawyer will reply within one business day.
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