Westpac, IBM, and University of Ballarat launch security alliance with Victorian Gov

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Westpac, IBM, and University of Ballarat launch security alliance with Victorian Gov

The Victorian Government together with Westpac Bank, IBM Australia and the University of Ballarat have launched the Internet Commerce Security Laboratory (ICSL) a research alliance to tackle cyber-crime.

The ICSL will focus on addressing critical Internet security issues for Australian businesses and consumers, users of Internet banking and financial services.

Jointly funded and operated, the alliance is also set to identify best practise processes and develop Internet security solutions.

According to Professor David Battersby, Vice-Chancellor, University of Ballarat, the ICSL aims to establish an international reputation for the provision of cutting edge solutions in Internet security and fraud, as well as provide a training environment for ICT post-graduate researchers in preparation for employment within Australia’s banking and financial services sector.

The projected budget for the Laboratory over the first five years will be approximately $4 million with funding provided by partner organisations, said Battersby.

Additionally, the Alliance has received an initial $1 million grant from the Victorian Government which will cover start-up costs and ongoing operational expenses over the first three years.

Peter Campbell, general manager, IBM Global Technology Services, A/NZ, said: “Working alongside academia as well as our clients like Westpac is an exciting opportunity for Australian collaboration, where we can focus on developing solutions with practical benefits for all Australians.”

This year has been a record year for malware, according to a recent IBM report from the IBM Internet Security Systems (ISS) X-Force research and development team.

David Backley, Westpac’s chief technology officer said: “Westpac is pleased to be part of the ICSL and looks forward to working in conjunction with industry, government and academia to create globally-leading solutions to tackle cybercrime,”

The ICSL will be part of UB’s Centre for Informatics and Applied Optimisation (CIAO), within the School of Information Technology and Mathematical Sciences and will be located within the University of Ballarat’s Technology Park.

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