Wed, 21st Aug 2024

In the latest Daily Financial Services News Wrap, the Australian Securities and Investments Commission continues its strides against online investment and crypto scams, taking down an average of 20 fraudulent websites each day. Superannuation platforms Transmit Security and Wrkr are partnering to enhance security systems, following recent cyber breaches impacting the superannuation sector. Australia sees a 73% spike in insurance claims related to extreme weather events in 2023-24 underlining the need for government resilience measures. The insurance industry seeks automation transformation, with underwriters spending approximately three hours per day on manual data input and actuaries feeling current technologies limit optimal data-driven decisions.