Hackers target Australia’s biggest pension funds, may have breached over 20,000 accounts

Hackers have targeted Australia’s largest pension funds in coordinated attacks. A report claims that cybercriminals have used this data breach to steal from the members of the biggest funds, affecting the country’s 4.2 trillion Australian dollar ($2.63 trillion) retirement savings sector. The latest hacking incident has reportedly compromised over 20,000 accounts from multiple major pension funds in Australia. In a statement to the news agency Reuters, National Cyber Security Coordinator Michelle McGuinness has confirmed tracking cybercriminal activities on these accounts. She also noted that a government-led response, involving regulators and industry, is expected soon.

How has this hacking incident affected Australia’s biggest pension funds