Christine Chen reports:
Hackers targeting Australia’s major pension funds in a series of coordinated attacks have stolen savings from some members at the biggest fund, according to a source with knowledge of the matter, and compromised more than 20,000 accounts.
National Cyber Security Coordinator Michelle McGuinness said in a statement she was aware of “cyber criminals” targeting accounts in the country’s A$4.2 trillion ($2.63 trillion) retirement savings sector and was organising a response across the government, regulators and industry.
The Association of Superannuation Funds of Australia, the industry body, said “a number” of funds were impacted over the weekend. While the full scale of the incident remains unclear, AustralianSuper, Australian Retirement Trust, Rest, Insignia and Hostplus on Friday all confirmed they suffered breaches.
AustralianSuper, the country’s largest fund managing A$365 billion for 3.5 million members, said that up to 600 member passwords had been stolen to access accounts and attempt fraud.
Read more at Reuters.