APRA Intensifies Supervision of Medibank After Cyber Attack

Australian Prudential Regulation Authority has intensified its supervision of Medibank Private in response to the recent cyber incident, which significantly impacted its customers and raised concerns about the strength of its operational risk controls.

• APRA has informed the scope of the external review announced by the company on Nov. 16 to ensure it will meet APRA’s requirements, the regulator says in a statement
  • The review by Deloitte will examine the incident itself, control effectiveness and the response of Medibank
• While noting Medibank’s constructive response to date, “APRA will consider whether further regulatory action is needed when findings of the ...