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.
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.
Four AustralianSuper members had a combined A$500,000 drained from their balances and transferred to other accounts that did not belong to them, according to the source, who was not authorised to speak publicly about the matter.
Australian Retirement Trust, the second-largest fund managing A$300 billion for 2.4 million members, said it had detected “unusual login activity” affecting “several hundreds” of accounts. It locked impacted accounts as a precaution, though there were no suspicious transactions or changes made.
“Over the weekend of 29-30 March 2025, Rest became aware of some unauthorised activity on our online Member Access portal,“ Rest CEO Vicki Doyle said.
Insignia Financial, which owns the pension fund MLC, said it detected “suspicious” login activity on 100 Expand Wrap Platform customer accounts. MLC Expand CEO Liz McCarthy said there had been no financial impact at this stage to members.
Prime Minister Anthony Albanese said he had been briefed about the hacks and that there would be a “considered” response from government agencies in time. He added that such attacks were a “regular issue” in Australia, with one occurring every six minutes.
Australia's largest not-for-profit hospital and aged care provider St Vincent's Health, private health insurer Medibank and telecom Optus have all suffered major breaches.
The government in 2023 committed A$587 million to fund a seven-year strategy to improve the cybersecurity of citizens, businesses and agencies. ($1=1.5995 Australian dollars) (Reporting by Christine Chen in Sydney; Editing by Jamie Freed and Sonali Paul)
Read More Details
Finally We wish PressBee provided you with enough information of ( Hackers strike Australia’s largest pension funds in coordinated attack )
Also on site :