04/04/2025
Hi folks, there has been another cyberattack on Aussie Super funds today. Some people have had all the funds in their Super accounts stolen.
Apparently the cybercriminals gained access to member's accounts using passwords stolen in previous data breaches.
Today's cyberattack again highlights the importance of using strong and unique passwords for all accounts and ensuring that Multi Factor Authentication (MFA) is enabled on all accounts where available.
Cyberattacks on the increase, and every week I am speaking with customers that have had their accounts hacked purely because they reuse passwords.
Some people even use the same password for every account they login to. This means if their credentials are stolen in a data breach, it's a matter or when, not if their accounts will be hacked.
A number of Australian superannuation funds have been hit with suspected cyber attacks, with members of one fund losing at least $500,000 in retirement savings. Stressed fund members also can't access their accounts, adding to the anxiety.