Cyber rules on the way to fight Optus hack fraudsters

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Cyber rules on the way to fight Optus hack fraudsters
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It comes as Optus chief Kelly Bayer Rosmarin prepares to meet with the telco’s owner Singtel to discuss last week’s breach, which compromised millions of users.

Cybersecurity Minister Clare O’Neil plans to reveal reforms this week forcing businesses to alert banks quickly about breaches of customer data to limit the likelihood of money being fraudulently taken from their accounts.breach of systems at telecoms giant Optus,

Cyber Security Minister Clare O’Neil is responding to citizens’ concerns about the implications of the Optus data breach.Ms O’Neil believes banks being alerted to customers’ exposure to data breaches would enable them to apply greater scrutiny to activity on their accounts, and could help customers dispute transactions in the event of theft.Singaporean tech giant Singtel

While it is believed internally that no one person is to blame for the breach, customer frustration grew at the weekend as an anonymous user claimed on a hacking forum to have the data of 11.2 million people. Optus said last week that“Optus if you are reading! Price for us to not sale data is 1,000,000$US we give you 1 week to decide,” the post, which demanded the payment be made in the monero cryptocurrency, said.has seen a sample of the apparent breach data and contacted the user.

Others, such as cyber threat intelligence firm Kela and partner Colab82, have theorised that hackers may have recruited Optus employees to“[Threat actors] were looking in June and July 2022 for ‘insiders’ of Optus and other companies, to get sensitive information about the company,” it said in an analysis note obtained by theKela identified three posters on notable hacking forums that were looking for insiders earlier this year.

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