Saadet Gokce
04 April 2025•Update: 04 April 2025
ISTANBUL
Australian superannuation funds have been targeted by cyberattacks, disrupting access for members of some of the nation's largest retirement funds.
Many members have experienced difficulty accessing their accounts, with some accounts incorrectly displaying a zero balance.
AustralianSuper, the country's largest superannuation fund with at least 3.5 million members and billions of dollars in investments, has been the target of 600 cyberattacks in the last month, ABC News reported on Friday.
"This week, we identified that cybercriminals may have used up to 600 members' stolen passwords to log into their accounts in attempts to commit fraud," the fund said in a statement on its website.
Four members reportedly lost a total of $500,000 due to the attacks.
"Even though you may not be able to see your account or are seeing a $0 balance, your account is secure," the statement added.
The Association of Superannuation Funds of Australia, the industry body representing superannuation funds, released a statement announcing that other funds also experienced attempted cyberattacks over the weekend.
Albanese acknowledged the incidents, saying he was "informed" of the situation.
"We will respond in time. We are considering what has occurred. Bear in mind the context... there is a cyberattack in Australia roughly every six minutes. This is a regular issue," Albanese told reporters.
