Australian Superannuation Funds Hit by Cyber Attacks: What Happened and What It Means for Everyday Australians
In a week where many Australians logged in to check their super balances, some were met with a chilling sight: a $0 balance. Not a glitch. Not a late deposit. But the aftermath of what’s now shaping up to be one of the most unsettling cyber incidents to hit the superannuation sector in recent memory. With AustralianSuper confirming over 600 attempted cyber attacks in the last month — and at least $500,000 in retirement savings stolen from four members — this event is more than just a technical failure. It’s a wake-up call. Let’s unpack what happened, how it unfolded, and what this means for super funds, regulators, and everyday members who are now understandably asking: “Is my money safe?” What We Know So Far AustralianSuper , the nation’s largest retirement fund with 3.5 million members , was the most significantly impacted, facing a wave of attacks over recent weeks. While the fund says most attempts were repelled, four members still had funds stolen — and the platform...