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Optus hack – which businesses are at the highest risk of hacks?

Published

3 years ago

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A hacker has threatened to release the private information of millions of Optus customers, this includes passports, medicare numbers, drivers licenses and banking information

If you’re one of the millions of Australians affected by the recent Optus data breach, you may be wondering what to do next.

Fortunately, the government has announced that Optus will be footing the bill for anyone who needs to change their driver’s licence number and get a new card.

This process is expected to cost the telco millions of dollars.

In the meantime, if you are concerned about your identity being compromised, experts recommend taking steps to protect yourself such as monitoring your credit report and changing your passwords and identity documents.

Optus has also set up a dedicated hotline for customers who want to know more about the data breach and what it means for them.

The hacker claimed to have accessed Optus customer names, addresses, dates of birth, driver’s licence numbers and credit.

They demanded a $1m ransom in cryptocurrency and threatened to release the data otherwise.

Now, they claim the data has been deleted, but there is no proof of this.

Can the hacker be found?

Susie Jones, Chief Executive at Cynch Security says it can be incredibly difficult to find cybercriminals “which is why it’s such a large market these days unfortunately.”

However, the the actions that they’re taking “certainly does indicate that they’re getting cold feet and certainly becoming a lot more nervous about the attention”.

“So whilst the pessimist cyber CEO hitting me says that they won’t be found. The optimistic Australian certainly hope they will be,” Susie says.

How long do people have to worry about hackers using their stolen ID information?

Good news – It’s not too late.

“The first step that they should be doing is really remaining vigilant and making sure that they’re scrutinising all of their bank accounts, all of their phone records, making sure that they’re really staying on top of what it is that is going on in their accounts and their personal data and personal lives,” Susie says.

“Being very, very careful around scam phone calls and emails. cyber attackers are very good at that now and they will be actively exploiting this opportunity.”

Susie says to make sure that you’re remaining vigilant and stay on top of what the latest scams are, so that you can spot them and delete them straight away.

Optus is in the business of dealing with people’s data and tech as one of Australia’s largest telco’s – what businesses are at the highest risk of ransomeware attacks?

“Businesses of every size, doesn’t matter if you’re a sole trader right up to the likes of Optus, are actively being attacked by cyber criminals every minute of every day.”

“But that’s just a reality. What this does do is raise awareness that personal data that is this is collect, even if it might seem small to yourself, and to the likes of hope this can be incredibly valuable and also from hands can be very, very damaging,” Susie says.

“So for those businesses that are not having to respond directly to this attack, they should be actively reviewing their own processes reviewing what personal information do they collect and store and making sure that they’re keeping it safe.

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Money

Dow struggles, investors lose confidence amid trade fears

Dow on track for worst April since 1932 amid trade uncertainty and investor ‘no confidence’ signals, as losses deepen.

Published

14 hours ago

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April 22, 2025

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Dow on track for worst April since 1932 amid trade uncertainty and investor ‘no confidence’ signals, as losses deepen.

In Short

The Dow Jones fell almost 1,000 points, heading for its worst April since 1932, with investors worried about trade restrictions and the future of the Federal Reserve Chairman.

Amidst declining stock confidence, traditional safe assets like bonds are under pressure, while gold prices have soared as investors seek safety.

The Dow Jones Industrial Average dropped nearly 1,000 points on Monday, heading towards its worst April since 1932. The S&P 500 has recorded its worst performance for any president at this stage since 1928.

Investors are concerned about trade restrictions and the potential removal of Federal Reserve Chairman Jerome Powell by President Trump, leading to fears of further losses. Many doubt that the administration’s trade negotiations will provide timely relief.

Traditional safe assets like government bonds and the U.S. dollar are also under pressure, limiting safe investment options during this instability. Chief investment officer Scott Ladner noted that this reflects a widespread “no confidence” sentiment among investors.

Tax cuts and deregulation

Following Trump’s election, stock indexes initially rose due to optimism around tax cuts and deregulation. However, the introduction of aggressive tariffs sparked significant market declines. Although there was some retraction of tariff plans, markets have not stabilised.

Typically, bond prices should increase during stock declines, but yields on 10-year U.S. Treasurys have risen, indicating a sell-off in government bonds.

The U.S. dollar has weakened due to economic concerns and Trump’s tensions with the Fed, hitting a three-year low. In contrast, gold prices have surged to all-time highs as investors seek safer assets.

Wall Street sentiment is declining, with bearish expectations remaining high for eight consecutive weeks, marking a record for prolonged pessimism among individual investors.

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Money

Trump warns of economic slowdown unless interest rates are slashed

Trump criticizes Fed’s Powell over interest rates, warning of economic slowdown, as markets react sharply.

Published

20 hours ago

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April 22, 2025

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Trump criticizes Fed’s Powell over interest rates, warning of economic slowdown, as markets react sharply.


President Donald Trump has once again lashed out at Federal Reserve Chair Jerome Powell, claiming the U.S. economy could “slow down” if interest rates aren’t cut immediately.

Markets reacted sharply, with bond yields jumping and equities falling as investors brace for a possible standoff between the White House and central bank.

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Money

Dow falls nearly 1,000 points amid market turmoil

Dow Drops Nearly 1,000 Points as Market Turmoil Grows Amid Tariff Concerns and Fed Leadership Threats.

Published

23 hours ago

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April 22, 2025

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Dow drops nearly 1,000 points as market turmoil grows amid tariff concerns and Fed leadership threats.

In Short

The stock market fell significantly on Monday, with the Dow losing nearly 1,000 points, raising concerns over President Trump’s trade policies and Federal Reserve leadership.

Additionally, the dollar plummeted to multiyear lows, while gold prices surged to a record high.

On Monday, the stock market experienced a significant decline, with the Dow industrials closing nearly 1,000 points lower. This downturn is part of a troubling trend, as April is on track to be the worst month for the market since 1932.

The value of the dollar also fell, reaching multiyear lows against major currencies like the euro.

Investor concerns are mounting over President Trump’s ongoing tariff war and his threats to remove Federal Reserve Chairman Jerome Powell. On social media, Trump called for lower interest rates, suggesting that economic slowdown is possible if action is not taken promptly.

National Economic Council Director Kevin Hassett indicated on Friday that the administration is dissatisfied with Powell’s performance and is considering his potential removal.

Export worry

Data from South Korea revealed a significant decrease in exports to the United States this month, further heightening market anxiety.

All major stock indexes reported losses, with the Nasdaq witnessing the largest decrease of around 2.5%. Key technology shares, including Tesla, Nvidia, and Apple, also fell sharply.

The ICE U.S. dollar index decreased by over 1%, marking its lowest value in three years against a basket of currencies. Treasury yields increased, the 10-year note reaching 4.39%.

Meanwhile, gold prices surged to an unprecedented $3,400 per troy ounce, and Bitcoin prices rose. Japan’s Nikkei index fell by 1.3%, while China’s CSI 300 managed a slight increase of 0.3%. Markets in Hong Kong and Europe remained closed for the Easter holiday.

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