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Optus hack – what data has been handed over?

Published

2 years ago

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Millions of Australians are caught up in a data breach with one of the nation’s largest telco’s

The telco says it is working with the Australian Federal Police to determine how the data was breached.

Optus has also called in external consultants to conduct an independent review of its data breach to ‘prevent it from occurring again’.

After almost two weeks of uncertainty for millions of customers, Optus has finally handed over data to Services Australia.

Optus has revealed more than two million customers had their identification documents exposed in the data breach.

The teleco giant has launched an independent review conducted by external consultants to investigate this major data breach.

The commissioner responsible for investigating the hack says the telco’s collection of personal data may have gone beyond its legal requirements.

At least 2.1 million personal identification numbers have been stolen

Optus believes 7.7 million do not need to replace documents.

The CEO of Optus says the telco’s mission is to protect customers.

Of the 2.1 million exposed, 900,000 identity documents had expired.

Optus has contacted all customers who need to take action.

Several government ministers have criticised the company’s response and its failure to promptly advise customers or the government what personal details had been compromised.

We spoke to one professor who believes this could be Australia’s biggest cyber breach to date

Right now the company is in damage control working with Government authorities to get this under control.

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China has pledged to “significantly increase” debt to jumpstart its economy

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1 day ago

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October 14, 2024

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Finance Minister Lan Foan announced plans to help local governments tackle debt, support low-income households, and boost the property market.

Investors have been urging such steps as China faces deflationary pressures and a sharp property market downturn.

However, no figure was provided for the stimulus package, leaving markets anxious about the strength and duration of the recovery effort.

Economists warn that this lack of clarity may prolong uncertainty until China’s legislature approves extra debt measures.

Concerns are rising that China may fall short of its 5% growth target, signalling deeper structural challenges ahead.

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Niche accountants proving essential to e-commerce success

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6 days ago

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October 9, 2024

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Expert explores the key benefits of partnering with accountants who specialise in niche industries.

In today’s fast-paced digital world, having an accountant who understands the intricacies of e-commerce can make all the difference in your business’s success.

Specialist accountants understand the specific needs of e-commerce businesses, helping to maximise tax savings, streamline operations, and improve financial health.

Niche accountants can identify opportunities to scale, optimise profit margins, and implement strategies that align with your business goals, ultimately drive growth.

Chris Rivera, Founder of The Ecommerce Accountants, joins to share his key insights into the industry.

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Money

Amazon’s 2024 Prime Day expected to make huge impact on tech sector sales

Published

6 days ago

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October 9, 2024

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Market experts believe Amazon’s upcoming event will drive a surge in sales, benefiting Amazon’s stock and boosting consumer tech companies that sell through its platform.

Experts predict that a short-term rally in retail and tech stocks could be seen as revenue spikes.

Founder/CEO of Unearthing Opportunities, and Board Advisor to Power Hero, Bradley A Gastwirth joins to unpack the latest market moves. #featured #trending

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