Cybercrime is a rapidly expanding global threat, projected to cause multi-million dollar losses.

ANZ’s Head of Information Security, Eli Hirschauge, says financial institutions, such as ANZ Group, face relentless monthly cyberattacks.

Hirschauge says these attacks encompass phishing, business email compromise, invoice fraud, and other sophisticated threats, all capable of severely disrupting operations and inflicting significant financial damage.

ANZ’s Head of Information Security, Eli Hirschauge (left), ANZ Fiji Country Head, Rabih Yazbek.

He says a practical framework for businesses to enhance their cybersecurity posture includes awareness, tidiness and readiness.

“Awareness, educating staff to recognize and respond to cyber threats, especially phishing attempts, which remain the most common attack vector. Tidiness, maintaining updated systems, using strong and unique passwords, and regularly backing up data to reduce vulnerabilities. Readiness, developing and practicing incident response plans to ensure swift and effective reactions to cyber incidents, akin to health and safety drills.”

ANZ Fiji Country Head, Rabih Yazbek, emphasizes the importance of coordinated action within the financial sector.

“ANZ is spearheading initiatives to improve information sharing between banks, insurance companies, and other financial institutions in Fiji. This collaboration aims to identify emerging threats early and collectively strengthen defenses.”

The ANZ bank is reminding that businesses in Fiji should adopt internationally recognized cybersecurity frameworks to safeguard themselves from such threats.

These provide structured guidelines for risk management, incident response, and access control, helping organizations manage sensitive information securely and cost-effectively.

The ANZ bank will collaborate with more than 100 stakeholders this week to provide the relevant support needed to help address cybercrime issues around the country.

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