Coordinated Cyberattack Hits Australian Pension Funds, Compromising 20,000 Accounts
Over 20,000 member accounts of several Australian pension funds were compromised in a coordinated cyberattack. REST, Hostplus, Insignia Financial, Aus
Over 20,000 member accounts of several Australian pension funds were compromised in a coordinated cyberattack. REST, Hostplus, Insignia Financial, AustralianSuper, and Australian Retirement Trust are among the major funds impacted. Unauthorised withdrawals totalling AUD 500,000 were made by hackers using passwords they had obtained to gain access to accounts. The funds have acted immediately, including adopting cybersecurity protocols and closing portals. In order to prevent future intrusions, authorities are focusing on implementing reforms such as obligatory multifactor authentication and bolstering security measures. Vulnerabilities in Australias AUD 4.2 trillion superannuation sector are highlighted by this occurrence.
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B2B Tech News | 1 months ago