AustralianSuper has vowed to refund members who had $500,000 stolen from their accounts in a cyberattack, with the Wayne Swan-chaired Cbus becoming the latest fund to say it has been breached after regulators told the industry to come forward with any related incidents.
The Australian Financial Reviewrevealed on Friday that hackers had broken into accounts at AustralianSuper and Australian Retirement Trust – the two biggest funds, with a combined $676 billion under management. REST, Hostplus and the MLC Expand platform run by the ASX-listed Insignia Financial were also hit, with 9000 accounts breached and $500,000 lost.
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Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com
Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com
