Three of Australia's big four banks have joined IBM and the Scentre Group - which looks after Westfield's properties - to launch a digital platform named Lygon which uses blockchain technology to manage bank guarantees that are often needed to lease a retail properly.
The banking industry is increasingly becoming a favourite among cyber criminals, according to security vendor MailGuard, which has detected a new phishing email scam purporting to be from Westpac.
The inherent weakness at the heart of the real-time payments platform PayID has been exposed, with the details of about 100,000 Australians being leaked through an attack on the Westpac bank.
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