Updated · Nov 16, 2022
Australia to Roll Out New Security Measures Following Optus Cyberattack
Updated · Sep 26, 2022
Major security changes are coming after millions of Optus customers had personal information stolen in a data breach.
Incoming Privacy Provisions
Australia will toughen its privacy regulations, forcing companies to notify banks faster after suffering cyberattacks. Prime Minister Anthony Albanese revealed this on Monday and said reforms were due following a security breach from last week.
“We want to make sure… that we change some of the privacy provisions there so that if people are caught up like this, the banks can be let know, so that they can protect their customers as well,” he said on a radio interview.
On Thursday, one of the country’s biggest telecommunications firms, Optus, announced that it had suffered a massive hack on its database. CEO Kelly Bayer Rosmarin revealed that up to 9.8 million people may have had their personal information compromised in the breach. That figure represents about 40% of Australia’s population.
According to the company, the hacker’s IP address appeared to move between European countries. It did not disclose any details, but reports indicate that an API vulnerability was exploited.
Minister for Home Affairs and Cybersecurity Clare O’Neil will announce reforms this week to mandate firms like Optus to rapidly provide information to financial institutions in the face of a cyberattack.
Daniel is an Economics grad who fell in love with tech. His love for books and reading pushed him into picking up the pen - and keyboard. Also a data analyst, he's taking that leap into data science and machine learning. When not writing or studying, chances are that you'll catch him watching football or face-deep in an epic fantasy novel.
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