Australian Banks Suspend Recruitment Portals due to Third-party Data Breach

Fintechist Aus Banks Data Breach

Data breaches have become all too common in the financial sector. In most cases, this applies to third parties, rather than banks themselves. PageUp People’s recent data breach has forced two Australian banks to remove their career pages altogether..

It is always unfortunate to see a data breach take place. In this day and age of cybercrime, such incidents are all too common, unfortunately. PageUp People recently suffered from a massive data breach which has major consequences. The situation is so dire two of its banking “partners” pulled their careers pages altogether. Not a positive development by any means, for obvious reasons.

Another Data Breach Scare

It is only normal most forms suspend the PageUp People recruitment portal for the time being. Since the full impact of the data breach remains unclear, there is no reason to take any unnecessary risks. Australia’s central bank has taken similar measures earlier this week.

For the time being, the investigation is still taking place. Client data may have been compromised, albeit nothing is officially confirmed. All passwords are hashed and salted, although clients are advised to change their password just in case. The recruitment portal itself is still fine, but it remains doubtful enterprises will use it again in the near future.

It is evident something will need to change sooner rather than later. Data breaches occur so frequently it is almost the new normal. PageUp People has to step up its security moving forward. Unfortunately for the CBA, it is the latest in an ongoing series of security scares. While they are not at fault this time around, that is not how the general public will perceive this development.

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