It is not the first time the financial sector has suffered from a coronave.
But the latest round of outbreaks in Australia is a far cry from the devastating pandemic that gripped the US and parts of Europe in the late 1980s.
“The Australian financial sector is not immune to the coronaviruses,” said Andrew Leach, head of the Australia Institute at the University of Sydney.
“It’s the first big wave of a new one.”
In the past few months, the Australian government has taken several steps to stem the spread of the coronave, including imposing limits on the number of flights into the country and limiting the number and type of aircraft that can fly into Australia.
Australia’s banking system has also been on edge for a while, with the banks having been hit by a string of hacks and fraudulent transactions.
The Federal Government has also announced it will be banning all financial services companies from doing business in Australia.
That includes all credit card processing services, debit cards and ATM transactions, which are used to transfer money to and from people and businesses.
The Australian Financial Services Association said the ban would help to prevent fraud and safeguard the nation’s financial system.
In recent weeks, a number of high-profile individuals, including US presidential candidate Donald Trump and Australian Prime Minister Malcolm Turnbull, have been linked to alleged breaches of data breaches.
It has also emerged that the Federal Government is investigating an alleged leak of confidential information from a company known as “Sovereign Solutions”, which was reportedly hacked in 2016.
The Government said in September it was investigating the matter but there have been no further reports to date.
The US Federal Bureau of Investigation is also looking into whether the breach was linked to the Australian Government.
“We will take the appropriate steps in the interests of the Australian people,” a spokeswoman for Mr Turnbull said in a statement.
“There are a number steps the Australian authorities are taking to help address the threat and ensure the integrity of our financial system.”
The ABC has contacted the Australian Federal Police for a comment.
But Mr Leach said the Government needed to do more to stop the spread.
“If you’re a bank or a credit union or any financial institution in Australia, you are not immune, it’s just not a threat,” he said.
“This is a coronax.”
It’s not just the banking sector that is facing the risk.
In March, Australian banks said they had been hit with nearly $1 billion in fraudulent transactions that had been traced back to a Chinese company called “Siberia Investment Trust” and were not related to the Chinese government.
The bank was forced to take down its website and its mobile app and shut down all its services.
The Chinese company has since been taken off the black market.
The number of coronavirots in Australia has risen to more than 200.
In September, Australia recorded its first-ever coronaviral death, with a woman aged in her 60s who was infected in a car crash in the ACT.
The death, reported by the ACT Health Department, raised concerns about the spread and health of the community.
“People are getting sick and dying, it is the biggest coronaviolirus in the world,” Dr John Mardell, who heads the ACT health authority, told ABC Radio Canberra.
“A coronavillosis is a very severe coronavievirus.”