Australian Pension Funds Hacked

Summary: Major Australian pension funds have been targeted in a hacking campaign that compromised thousands of customer accounts, raising alarms about the security of the A.2 trillion retirement sector. Notably, AustralianSuper and REST Super reported unauthorized access to member accounts, attributed to credential stuffing techniques. The incident highlights the urgent need for improved cyber hygiene among both financial institutions and their clients.

Affected: Australian pension funds, including AustralianSuper and REST Super

Keypoints :

• Approximately 600 member accounts were accessed at AustralianSuper.
• REST Super disclosed that around 20,000 of its 2 million members were affected.
• The attacks are believed to have utilized stolen credentials from previous breaches or phishing campaigns.
• Customers are urged to update passwords, activate multi-factor authentication, and remain vigilant against phishing attempts.
• The incident raises concerns about the overall security posture of the Australian retirement sector.