Australian superannuation cyberattack: Australian | Australian Markets
Multiple Australian super funds have been focused in a refined cyberattack after passwords have been allegedly leaked.
Australian Retirement Trust, AustralianTremendous, HostPlus, Rest and Insignia are understood to have been focused.
Initial data signifies funds have been taken from Australians’ super fund accounts.
Prime Minister Anthony Albanese says he has been briefed on the assault.
AustralianTremendous on Friday confirmed its defences had been breached, with up to 600 accounts compromised “in attempts to commit fraud”, with member passwords stolen.
“While we took immediate action to lock these accounts and let those members know, there are things members can do right now to protect themselves online,” AustralianTremendous chief member officer Rose Kerlin stated.
“Over the past week, we have seen a spike in suspicious activity across our member portal and mobile app, and we are urging members to take steps to protect themselves online.”
Meanwhile, the cyberattack had compromised the main points of least 8000 retail staff’ default fund REST.
REST chief govt Vicki Doyle informed workers in an e-mail on Friday: “Last weekend we became aware of some unauthorised activity on our online member access portal”.
“Some members’ personal information such as their first name, email address and member number may have been accessed.
“We responded immediately by shutting down our member access portal, undertaking investigations and launching our cybersecurity protocols and network monitoring,” she stated.
Ms Doyle stated it was “in the process of communicating directly with these members to guide them through actions to further safeguard the security of their accounts”.
It’s understood Australian Retirement Trust, Hostplus and the largest retail super fund Insignia have additionally been subject to the assault.
Association of Superannuation Funds of Australia stated whereas the bulk of the makes an attempt have been repelled, “unfortunately a number of members were affected”.
“Funds are contacting all affected members to let them know and are helping any whose data has been compromised.”
“Retirement savers should be assured superannuation funds and their service providers already have rigorous cyber protections in place. “
“In a rapidly evolving threat landscape there will always be new and emerging risks, but Australia’s super sector is proactively working together to improve system-wide defences, including through the ASFA Financial Crime Protection Initiative.”
Association of Superannuation Funds of Australia issued a assertion on Friday saying: “While the majority of the attempts were repelled, unfortunately a number of members were affected.
“Funds are contacting all affected members to let them know and are helping any whose data has been compromised.”
“Retirement savers should be assured superannuation funds and their service providers already have rigorous cyber protections in place. “
“In a rapidly evolving threat landscape there will always be new and emerging risks, but Australia’s super sector is proactively working together to improve system-wide defences, including through the ASFA Financial Crime Protection Initiative (FCPI).”
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