Australian Politics Forum - Theft of our Super money

Bobby.

Gold Member

Offline

Australian Politics

Posts: 120611
Melbourne
Gender: male

Theft of our Super money - cyber attack
Apr 4^th, 2025 at 4:19pm

Don't panic.

ABC 24 said so far $500,000 has been stolen from 4 members.

https://www.abc.net.au/news/2025-04-04/drt-how-superfunds-were-hacked/105138170

What we know so far about the Australian superannuation fund cyber attacks

Topic: Superannuation

13m ago

In short:
Cyber criminals were able to breach a number of super funds, stealing hundreds of thousands of dollars from members.

Cyber security experts say the breach is unsophisticated, and likely came about because some super funds had not implemented basic security protocols on members' accounts.

What's next?
Experts say many super funds are insured against fraud and theft, and urged customers not to panic.

Multiple large superannuation funds have been targeted in suspected cyber attacks that led to some members losing several thousand dollars in retirements savings.

Hostplus, Rest, AustralianSuper and Australian Retirement Trust are among the providers targeted.

The attacks were discovered over the weekend, and follow rising reports of online security threats in Australia with a cyber crime reported every 6 minutes.

Cyber experts say there were "major security weaknesses" in the superannuation sector that had been flagged, and the breach should be a wake-up call for the industry.

What happened?
AustralianSuper, the nation's biggest retirement fund, said cyber criminals may have used up to 600 members' stolen passwords to log into their accounts.

The hackers allegedly sought lump sum withdrawals.

Back to top

IP Logged

Sir lastnail Gold Member Offline Australian Politics Posts: 30923 Gender:	Re: Theft of our Super money - cyber attack Reply #1 - Apr 4^th, 2025 at 4:21pm That is nothing compared to the 30 billion in fees they steal from everyone each year !! That's why they never invest in precious metals because it is hard to chisel away their fees if it's physical metal !!
Back to top	"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995 IP Logged

Bobby.

Gold Member

Offline

Australian Politics

Posts: 120611
Melbourne
Gender: male

Re: Theft of our Super money - cyber attack
Reply #2 - Apr 4^th, 2025 at 4:27pm

Sir lastnail wrote on Apr 4^th, 2025 at 4:21pm:

That is nothing compared to the 30 billion in fees they steal from everyone each year !!

That's why they never invest in precious metals because it is hard to chisel away their fees if it's physical metal !!

We know they charge high fees.

Still - don't panic - they say our money is safe.

Back to top

IP Logged

Bobby. Gold Member Offline Australian Politics Posts: 120611 Melbourne Gender:	Re: Theft of our Super money - cyber attack Reply #3 - Apr 4^th, 2025 at 4:50pm Bloody hell - there is always someone trying to steal your money and belongings - whether it's a burglary, a mugging, a home invasion, a car jacking, shoplifting, and now cyber attacks on our Super money. We need to bring back 19th century British justice.
Back to top	IP Logged

Sir lastnail

Gold Member

Offline

Australian Politics

Posts: 30923
Gender: male

Re: Theft of our Super money - cyber attack
Reply #4 - Apr 4^th, 2025 at 5:29pm

Bobby. wrote on Apr 4^th, 2025 at 4:27pm:

Sir lastnail wrote on Apr 4^th, 2025 at 4:21pm:

That is nothing compared to the 30 billion in fees they steal from everyone each year !!

That's why they never invest in precious metals because it is hard to chisel away their fees if it's physical metal !!

We know they charge high fees.

Still - don't panic - they say our money is safe.

Until the next share market crash where they leave your life savings exposed to the full downside risk Sad

Back to top

"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

IP Logged

Bobby.

Gold Member

Offline

Australian Politics

Posts: 120611
Melbourne
Gender: male

Re: Theft of our Super money - cyber attack
Reply #5 - Apr 4^th, 2025 at 6:41pm

Sir lastnail wrote on Apr 4^th, 2025 at 5:29pm:

Bobby. wrote on Apr 4^th, 2025 at 4:27pm:

Sir lastnail wrote on Apr 4^th, 2025 at 4:21pm:

That is nothing compared to the 30 billion in fees they steal from everyone each year !!

That's why they never invest in precious metals because it is hard to chisel away their fees if it's physical metal !!

We know they charge high fees.

Still - don't panic - they say our money is safe.

Until the next share market crash where they leave your life savings exposed to the full downside risk Sad

I was so paralyzed with fear after a previous stock market crash with considerable losses
that I transferred all my Super to the Bank option.

Back to top

IP Logged

greggerypeccary

Gold Member

Online

Australian Politics

Posts: 153800
Gender: male

Re: Theft of our Super money - cyber attack
Reply #6 - Apr 4^th, 2025 at 7:01pm

Bobby. wrote on Apr 4^th, 2025 at 6:41pm:

Sir lastnail wrote on Apr 4^th, 2025 at 5:29pm:

Bobby. wrote on Apr 4^th, 2025 at 4:27pm:

Sir lastnail wrote on Apr 4^th, 2025 at 4:21pm:

That is nothing compared to the 30 billion in fees they steal from everyone each year !!

That's why they never invest in precious metals because it is hard to chisel away their fees if it's physical metal !!

We know they charge high fees.

Still - don't panic - they say our money is safe.

Until the next share market crash where they leave your life savings exposed to the full downside risk Sad

I was so paralyzed with fear after a previous stock market crash with considerable losses
that I transferred all my Super to the Bank option.

Paralysed with fear over money?

Jesus, Bobbi, you need to get some perspective.

Back to top

GOP = Guardians Of Paedophiles

IP Logged

Bobby.

Gold Member

Offline

Australian Politics

Posts: 120611
Melbourne
Gender: male

Re: Theft of our Super money - cyber attack
Reply #7 - Apr 4^th, 2025 at 7:14pm

greggerypeccary wrote on Apr 4^th, 2025 at 7:01pm:

Bobby. wrote on Apr 4^th, 2025 at 6:41pm:

Sir lastnail wrote on Apr 4^th, 2025 at 5:29pm:

Bobby. wrote on Apr 4^th, 2025 at 4:27pm:

Sir lastnail wrote on Apr 4^th, 2025 at 4:21pm:

That is nothing compared to the 30 billion in fees they steal from everyone each year !!

That's why they never invest in precious metals because it is hard to chisel away their fees if it's physical metal !!

We know they charge high fees.

Still - don't panic - they say our money is safe.

Until the next share market crash where they leave your life savings exposed to the full downside risk Sad

I was so paralyzed with fear after a previous stock market crash with considerable losses
that I transferred all my Super to the Bank option.

Paralysed with fear over money?

Jesus, Bobbi, you need to get some perspective.

Some people get upset when they lose money.
I was in a casino once and one guy was cursing and swearing because he had lost money.
I asked him - how much did you lose? -
he said 12 dollars. Grin

Back to top

IP Logged

Captain Nemo

Gold Member

Offline

Australian Politics

Posts: 15829
Melbourne
Gender: male

Re: Theft of our Super money - cyber attack
Reply #8 - Apr 6^th, 2025 at 11:21am

I'm with AustralianSuper and it has been difficult to log into it over the last few days.

Working OK today.

Luckily, I have not been one of the people who has had their account broken into.

I didn't use the App to verify login but have now installed the App to send a verification code when logging in. HOWEVER ... you can still log in via the web without the app verification - password only. Cheesy

I suppose they will make it compulsory to use Multi factor login soon. The sooner the better.

I changed my password today just in case too.

Now a mixed format 19 character password. That should keep the hackers out of my account! Cool

30,862,366,077,815,090,000,000,000,000,000,000,000 possible combinations.

Back to top

« Last Edit: Apr 6^th, 2025 at 11:37am by Captain Nemo »

Fire the LIAR in 2028!

IP Logged