Hackers are trying to siphon pension savings from various Australian employee funds, a leading industry group cautioned on last Friday.
The Association of Superannuation Funds of Australia (ASFA) reported that hackers attempted to breach the cyber-defences of several superannuation funds last weekend.
Superannuation funds in Australia are a government-established savings scheme from the 1990s, requiring employers to contribute part of workers' wages into long-term investment accounts.
“While the majority of the attempts were repelled, unfortunately a number of members were affected. Funds are contacting all affected members to let them know and are helping any whose data has been compromised,” ASFA said.
AustralianSuper revealed on its website that hackers used stolen passwords to access 600 member accounts. The company did not immediately clarify whether it mandates multifactor authentication for account access and fund transfers.
On Friday, Prime Minister Anthony Albanese confirmed he had been notified of the cyberattack and stated the government is assessing the incident and will act in due course.
