ASX:BENBanks
Does APRA Penalty And Cyber Incident Accounting Shape The Bull Case For Bendigo and Adelaide Bank (ASX:BEN)?
Bendigo and Adelaide Bank has acknowledged past civil proceedings brought by APRA over Banking Act contraventions between 2020 and 2023, accepting a proposed A$8.0 million penalty and A$2.6 million in legal costs related to its discontinued Alliance Bank business and a contained 2023 cybersecurity incident that misappropriated about A$140,000.
The bank’s decision to book these amounts as a non-cash item in its 2026 financial year highlights how regulatory and cybersecurity issues can...