Rose Kerlin, the company’s chief member officer, said AustralianSuper took immediate action to lock the affected accounts and inform the members who owned them. One such affected fund, AustralianSuper, confirmed to The Guardian newspaper that a combined AU$500,000 ($305,000) was successfully extracted from the accounts of four of its members. Superannuation funds in Australia are a savings system where part of employees’ wages are compulsorily placed in an investment fund, a system formally introduced by the government in the 1990s to reduce dependence on publicly-funded pensions. The company’s media team did not immediately respond to a question about whether it required multifactor authentication from customers to access their accounts and transfer funds. Hackers are attempting to steal pension savings from a wide range of employee investment funds in Australia, an industry body warned on Friday. Funds are contacting all affected members to let them know and are helping any whose data has been compromised,” ASFA said. On its website, AustralianSuper confirmed stolen passwords were used to access the accounts of 600 members. The company’s site warns visitors it is experiencing a high volume of traffic to its call center and online accounts, causing intermittent outages. The company says it manages more than AU$365 billion (more than $223 billion) in total on behalf of more than 3.5 million members. No other funds have yet confirmed whether members’ savings were compromised in the campaign.
This Cyber News was published on therecord.media. Publication date: Fri, 04 Apr 2025 14:05:13 +0000