Multiple Australian superannuation funds targeted in a coordinated cyberattack
Multiple Australian superannuation funds have been targeted in a coordinated cyberattack that has compromised thousands of accounts and resulted in some members losing thousands in savings.
AustralianSuper, the country’s largest superannuation fund with around 3.5 million members, has reportedly been the target of approximately 600 cyberattack attempts over the past month. As a result, four members are said to have lost a total of AUD$500,000 from their retirement accounts.
Several other major super funds, including Rest, Hostplus, Insignia Financial’s MLC Expand, and Australian Retirement Trust, have also been targeted in similar attacks. Rest disclosed that roughly 20,000 of its members—about 1% of its customer base—were affected. However, the fund emphasized that no funds were withdrawn from the impacted accounts.
An Association of Superannuation Funds of Australia (ASFA) spokesperson said hackers attempted to get through the cyber defences of several superannuation funds last weekend. The spokesperson said while most of the attempts were repelled, several funds were affected and data had been compromised.
AustralianSuper confirmed that four of its members lost half a million dollars during the cyberattack.
A statement issued by the super fund said there was a spike in suspicious activity across the members’ portal and mobile app and urged members to take steps to protect themselves online.
Blogger at www.systemtek.co.uk