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flag Governor Bullock warns quantum computing threatens Australia’s financial security, urging stronger safeguards and preserving cash access.

flag Reserve Bank Governor Michele Bullock warned that quantum computing and other emerging technologies threaten Australia’s financial security, potentially breaking current encryption and increasing cyber risks. flag She stressed the need for stronger safeguards, urged social media platforms to combat scams, and emphasized cash remains vital as a backup during crises and for remote communities, despite making up only 10% of transactions. flag Efforts are underway to sustain cash access through collaboration among banks, retailers, and regulators ahead of the November 3–4 monetary policy meeting.

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