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Showing 121 - 130 of 1678 results for "Breach"

Three AFS licensees pinged over compliance breaches

ANDREW MCKEAN  |  WEDNESDAY, 9 APR 2025
... to ensure compliance with the law. ASIC noted each penalised licensee promptly registered their adviser and reported the breach after becoming aware the individual was unregistered. The regulator said it took these circumstances into account when determining ...

Breaches continue as Cbus confirms 'unusual behaviour'

ELIZA BAVIN  |  TUESDAY, 8 APR 2025
Cbus has confirmed it has reported to APRA an "unusually high spike in log-in attempts", impacting around 85 member accounts, which occurred several days after the cyber-attack that impacted other super funds. "At this stage of our inquiries, there ...

Cyberattacks on super funds expose 'critical vulnerability'

ANDREW MCKEAN  |  MONDAY, 7 APR 2025
The spate of cyberattacks targeting major Australian superannuation funds has laid bare a "critical vulnerability" in the sector's defences, according to financial services cybersecurity consultancy firm Software@Scale. The attacks, which have so ...

Cybercriminals attack major super funds

ANDREW MCKEAN  |  FRIDAY, 4 APR 2025
Cybercriminals attempted to breach the systems of several superannuation funds over the weekend, although most attacks were repelled, thousands have been affected. Rest said fewer than 1% of its members have been affected by unauthorised activity on ...

The super fund scouring the dark web to protect members

ANDREW MCKEAN  |  THURSDAY, 3 APR 2025
A compromised identity could result in financial harm, including the loss of superannuation savings, a particularly prominent risk given the volume of members' personal data available for sale. This super fund is fighting back with a novel approach. ...

Life insurers keep breaking their own rules: Report

ANDREW MCKEAN  |  TUESDAY, 1 APR 2025
... in the previous year, according to the Life Code Compliance Committee's 2023-24 annual report. Most insurers saw their breach count climb, with five companies responsible for 90% of all reported incidents - the report didn't disclose their identities. ...

APRA levy to cost $243m in FY26

KARREN VERGARA  |  FRIDAY, 28 MAR 2025
The total cost to keep APRA's enforcement activity going is set to be $243 million in the 2026 financial year, with the superannuation industry taking up about 30% of this amount. Super funds have been allocated $72.9 million to fund APRA's operations ...

AMP staff surveillance slammed by FSU

ELIZA BAVIN  |  FRIDAY, 21 MAR 2025
The Finance Sector Union (FSU) has slammed a "draconian" employment contract issued to AMP staff. Staff have been given one week to sign the new employment contracts that enables AMP to carry out continuous video surveillance of them no matter where ...

ASIC slaps FIIG Securities with lawsuit

JAMIE WILLIAMSON  |  THURSDAY, 13 MAR 2025
... driver's licences, passports, bank accounts, and tax file numbers. The data was then released on the dark web. The breach occurred after a FIIG employee downloaded a.zip file containing malware while browsing the internet. Not only did the incident ...

IAM mandate grows to $130m

KARREN VERGARA  |  MONDAY, 10 MAR 2025
Income Asset Management's (IAM) mandate to refinance digital non-bank lender MoneyMe's debt facility has grown to $130 million. IAM is refinancing MoneyMe's MME Horizon Warehouse Trust, which has secured commitments from family offices ...