Australia takes Singtel-owned Optus to court over 2022 cyber attack
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 22 2024
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Should l Buy ?
Source: Yahoo Finance
- Legal Action Against Optus: Australia's media regulator is taking legal action against Optus, a telecom carrier, over a cyber attack it faced in September 2022.
- Data Breach Incident: Optus experienced a massive data breach in September 2022, exposing customers' personal information like home addresses, passport details, and phone numbers.
- Government Response: Prime Minister Anthony Albanese called for stricter privacy rules to ensure faster notification to banks by companies experiencing data breaches.
- Impact on Customers: About 10 million Australians, 40% of the population, who are Optus customers faced disruptions in using smartphones, broadband internet, and landlines during the breach.
- Regulatory Allegations: The Australian Communications and Media Authority alleges that Optus Mobile failed to protect customer information from unauthorized access, leading to legal proceedings.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
