Cyber Heist: Australia's Pension Funds Under Siege

Hackers targeted major Australian pension funds, compromising over 20,000 accounts and stealing savings. AustralianSuper and other funds confirmed breaches, prompting immediate security measures. Government officials including Prime Minister Albanese have been briefed, emphasizing the need for a coordinated response to such cyber threats.

A wave of cyber attacks has hit Australia's major pension funds, with hackers compromising over 20,000 accounts and stealing members' savings, a source revealed. Prominent funds like AustralianSuper confirmed breaches, prompting urgent security actions.

The National Cyber Security Coordinator acknowledged the threats in the A$4.2 trillion retirement savings sector, organizing a response from government, regulators, and industry.

In response to these breaches, Prime Minister Anthony Albanese and Treasurer Jim Chalmers expressed grave concerns, as government plans for bolstering cybersecurity continue with substantial investment.

(With inputs from agencies.)