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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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.
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.
