ESTABLISHMENT OF TASKFORCE

Sydney, 23 June, 2005: The Australian Bankers’ Association (ABA) is establishing an Information Security Taskforce to examine whether the current arrangements with respect to advice on breaches of security of customer information can be improved.

The formation of this Taskforce follows the recent credit card security breach in the United States.

The review will commence by 1 July and the ABA will be making a further statement about outcomes towards the end of 2005. Composition of the Taskforce is under consideration by the ABA and its member banks.

Public consultation will be considered but will depend upon the security sensitivity of the report.

It is important to note that in Australia, the guarantee rules mean that no credit cardholder should lose any money as a result of the security breach in the United States. Any inconvenience associated with the computer theft is regretted. Cardholders are encouraged to check their statements for any unauthorised transactions and if they notice any discrepancies, contact their bank.

For further information:

Heather Wellard
Director, ABA Public Relations
Phone: 02 8298 0411
Mobile: 0409 830 439
 

ENDS