31k Aussies have had their banking details compromised
Banking passwords belonging to 31,000 Australian customers have been stolen using malware and traded through the dark web, with experts fearing customers could lose their money.
According to an investigation by cyber intelligence researcher Dvuln, banking details belonging to at least 14,000 CommBank customers, 7000 ANZ customers, 5000 NAB customers and 4000 Westpac customers are available on the messaging platform Telegram and the dark web.
Dvuln said Australian financial security was facing a silent threat of infostealer malware harvesting data but not from inside the walls of financial institutions.
Dvuln co-founder Jamieson O'Reilly told NewsWire there was a thriving underground where criminals had changed the way they scammed victims.
'Instead of the traditional ransomware attack where they lock your computer and ask for money, criminals have found that it's much more lucrative to not be detected, not make any noise and just leave the malware on your device as long as possible so that every time you change your information, it is sent back to the criminal gangs that control it.
'It means they have this continuous stream of information that they can sell to other cybercriminals.
'So rather than one payment with a ransom, they're getting year-on-year payments in some cases where they've got a device infected for a long time.'
Mr O'Reilly said while the research focused on the banks, there was a much larger problem for Aussie households.
'We chose to highlight the banking risk because that would get the everyday Australian's deserved attention, but there was a lot more information,' he said.
'If your computer is infected, it's not just your banking credentials. It's your whole personal identifiable information, your digital life,' he said.
The hack, known as an infostealer, works by individual users' devices having malicious software unknowingly installed.
The software will collect and send as much valuable data as possible to a cybercriminal before it is traded on the dark web.
It overwhelmingly targets computers running on Windows and, as well as passwords, can capture credit card details, cryptocurrency wallets, local files, and browser data, including cookies, user history and autofill details.
Some of the 31,000 devices mentioned above were infected as far back as 2021 but would still provide valuable data to hackers.
Mr O'Reilly said this number represented just a fraction of the total number of people who could have been impacted by this scam.
Globally, separate research from Kela shows more than 3.9 billion passwords have been stolen using this scam method.
Dvuln said it started the research following Australia's superannuation hack in early April.
Worse still, Dvulen research shows the scammers have evolved beyond simple password theft and are now able to capture authentication cookies, allowing them to bypass multi-factor authentications.
'It's important to say that MFA and all the other security controls are not useless, they definitely have a place,' Mr O'Reilly said.
'Use them whenever you get the opportunity.
'They won't stop this virus getting on your device, but they will make it harder for criminals to actually use the information on your device.'
Australian Banking Association chief executive Anna Bligh said the issue relates to data being accessed from individual personal devices such as phones and laptops, not from any breach of bank security systems.
'Keeping customers secure online is the top priority for Australia's banks. They continue to invest security defences to help keep customers safe, including using advanced intelligence systems to monitor both open and dark web sources for compromised customer credential,' she said.
Ms Bligh said if a bank became aware that a customer's credentials had been compromised, it could take steps to secure their account and advise them on how to prevent further activity.
What should Aussies do to protect themselves
Mr O'Reilly said it was important that Australians focused on good cyber-security awareness and evolved their thinking from traditional scams.
'I think what it shows, in terms of importance, is how much the public needs to wake up to the fact that criminals are making a good living off their information,' he said.
'And we need to get out of this mindset where if you're hacked, then you'll see big pop-up warnings on your computer.'
According to the Commonwealth Bank, there are a few tips that can help slow down these types of scams.
To enhance their security, customers should:
• Create unique, strong passwords and change them regularly
• Install and maintain reputable antivirus software
• Monitor their accounts and enable transaction notifications
• Contact their financial institution immediately if they notice anything suspicious
Commonwealth Bank also said it was using advanced intelligence systems to track the dark web for compromised credentials, block suspicious payments and adapt their defences based on real-time threats.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sky News AU
an hour ago
- Sky News AU
Prime Minister Anthony Albanese to attend string of high-level summits around the world amid global uncertainty and international conflicts
Prime Minister Anthony Albanese is preparing to attend more than half a dozen overseas trips or conferences by the end of 2025, Sky News Australia can reveal. Mr Albanese will attend the APEC forum in Korea, ASEAN summit in Malaysia, COP climate conference in Brazil, and the G20 summit in South Africa. He is also expected to visit China at the invitation of President Xi Jinping, speak at the UN General Assembly in New York, and attend the Pacific Islands Forum in the Solomon Islands. Mr Albanese sees the trips as essential at a time when there is so much upheaval in the world, with a war in the Middle East and another in Ukraine. The busy schedule comes after Mr Albanese earned the moniker 'Airbus Albo' in his first term of government, just as former prime minister Kevin Rudd was branded 'Kevin 747'. The Australian government originally helped set up APEC, and the G20 is a forum every Australian prime minister always attends. The COP summit in Brazil is necessary, given Australia bidding to host a future UN climate conference. That trip will likely be paired with the G20. Mr Albanese is also expected to use the UN General Assembly in New York as the best opportunity to secure a rescheduled face-to-face meeting with US President Donald Trump. The two leaders' planned first meeting at the G7 in Kananaskis, Canada was abruptly cancelled last week, prompting criticism of Mr Albanese's lack of engagement with President Trump. Mr Albanese considered attending the NATO summit in The Hague to revive the meeting, but it has been confirmed that Deputy Prime Minister Richard Marles will attend instead. The Albanese government's view is that President Trump has agreed to a meeting, and it will take place at an appropriate time. The visit to China is also seen as an important step, given the size of the trading relationship between the two countries. On his first trip to China in the last term of parliament, the Prime Minister ensured he visited the United States beforehand where he met with then-president Joe Biden. That was another reason the highly anticipated meeting with President Trump had been so important for the Albanese government. Since being re-elected in May, Mr Albanese has already travelled to Indonesia to meet President Prabowo Subianto and to Rome for the Mass swearing in the new Pope Leo. He also visited Nadi, Fiji to meet Prime Minister Sitiveni Rabuka; Seattle, USA to meet Amazon Web Service CEO Matt Garman; and Kanaskis, Canada for the G7 Summit. In the absence of Mr Trump, Mr Albanese instead held two short meetings on the sidelines of the G7 with key members of the Trump administration. He also met with British Prime Minister Keir Starmer, Indian Prime Minister Narendra Modi, Japanese Prime Minister Shigeru Ishiba and German Chancellor Friedrich Merz.
The Age
3 hours ago
- The Age
Why two of Collingwood's modern-day greats aren't even earning the average AFL player wage
Loading Collingwood greats Scott Pendlebury and Steele Sidebottom are playing for less than the AFL's average wage for a senior-listed player this year, in what has become a major benefit to the premiership favourites. Pendlebury, 37, and Sidebottom, 34, are contracted for deals in the range of $400,000 in 2025, plus the normal bonuses players can receive for best and fairest finishes and All-Australian selection, according to industry sources familiar with the outline of the super veterans' 2025 deals. Even if either earned best and fairest or All-Australian bonuses, Pendlebury and Sidebottom would still fall short of the $500,771 that is the average for an AFL senior-listed player (not including rookie list players) in 2025. Like Sidebottom, match-winning forward Jamie Elliott, 32, has been in near-career peak form this year – sitting third on the AFL goalkicking table – and is being paid well below his level of performance, relative to the competition. To place Pendlebury's and Sidebottom's deals for this year in perspective, collectively they are paid close to half the amount offered to Carlton's Tom De Koning, by St Kilda, on an annual basis, should the free-agent ruckman take up the Saints' monstrous long-term offer of $1.7 million a year. The Magpies have indicated a wish to retain Pendlebury and Sidebottom, along with Elliott, in 2026. Assuming a reasonable run with injury, Pendlebury (414 games) would break the AFL games record of 432 held by Brent Harvey next year, should he sign on, as now appears likely, for a 21st season. Defender Jeremy Howe, too, is reportedly favoured to be offered a contract. That Pendlebury, Sidebottom, Elliott and Howe have been able to perform at high levels, despite being well into their 30s, has been of benefit to the ladder leaders, who had enough space in their salary cap to acquire Dan Houston from Port Adelaide and Harry Perryman from Greater Western Sydney.
Sky News AU
3 hours ago
- Sky News AU
Price wars, cheap airfares and stiff competition for Qantas: What can Aussies expect from the new Virgin Australia?
Australia's second largest airline is heading back on the market for the first time since it fell into administration in 2020. Virgin Australia last week finally unveiled initial public offering plans after years of rumours and reports. The carrier confirmed it was offering 30.2 per cent of the company, or $685 million for $2.90 per share, up for grabs from June 24. Australian travellers, the local travel sector and investors are now fixated on exactly what can be expected from the new iteration of Virgin Australia. Virgin's international expansion Virgin Australia returns to the ASX with the backing of one of the world's best regarded carriers as it ventures onto lucrative international routes. Qatar Airways purchased a 25 per cent stake in Virgin and earlier this month began wet-leasing aircraft to the Australian airline, meaning Virgin could use Qatar's planes and staff on its flights. Flight Centre's CEO Graham Turner said Qatar Airways backing Virgin had 'solidified' the airline as it looked to compete with Qantas and the National Carrier's partner Emirates on routes to Europe. 'The airline industry is one where you do need deep pockets and I think that Qatar really offers some serious security there,' Mr Turner told Qatar Airways' additional capacity to Australia via Virgin comes almost two years after Transport Minister Catherine King controversially blocked extra capacity for the carrier. The Albanese government's ties with Qantas, which opposed the flights, came under intense scrutiny as the decision to block the extra capacity came at a time when sky high airfares plagued Aussies travellers. Labor, alongside the Foreign Investment Review Board, approved Qatar's stake in Virgin earlier in the year, boosting hopes for cheaper airfares and more vibrant aviation competition in Australia. The expertise and massive size of Qatar's fleet, which is often ranked as one of the world's top airlines, is considered essential for Virgin's European expansion. 'Having a partner like Qatar that's obviously heavily committed to the Australian international market, particularly to Europe and the UK, is going to be a really positive thing for Virgin here,' Mr Turner said. Virgin is also expected to benefit from a massive investment by Qatar for 210 widebody Boeing aircraft. The editor in chief of aviation website 42 Thousand Feet, Geoffrey Thomas, said the additional aircraft would enable Virgin to relaunch trans-Pacific and Asian routes alongside European flights. 'With Qatar Airways and their buying power … I see them as being a real rock of Gibraltar, if you like, for Virgin,' Mr Thomas told 'In the recent order for about 130 B787s, I see a number of those, possibly 20, making their way to Virgin as part of a bulk buying. 'That will help Virgin relaunch to Asia, relaunch the United States and become a true international airline in its own right.' However, not all are convinced Qatar's involvement with Virgin will send it skyrocketing. Morningstar analyst Angus Hewitt, who has argued Virgin's IPO is overvalued, said the collaboration with Qatar 'does not mean much at all'. He noted Virgin will get some commission and a fixed fee from Qatar, but this would be offset by the cost of selling and delivering the flights. 'The actual earnings impact of the Qatar long haul agreement is going to be negligible,' Mr Hewitt said on Sky News' Business Now. The major value of the agreement, Mr Hewitt argued, came from the boost to Virgin's frequent flyer program Velocity. 'It makes Velocity a more formidable competitor to Qantas Frequent Flyer,' he said. Cheaper airfares? Aussie travellers have been desperate for cheaper domestic and international flights since the pandemic. But whether travellers see Virgin wage a price war with Qantas after it goes public remains up in the air. Virgin's decline throughout the 2010s and subsequent collapse in 2020 was partly due to the airline's former CEO John Borghetti toughing it out against ex-Qantas boss Alan Joyce in a bitter capacity war. A vast oversupply of seats contributed to the carrier facing a decade of red ink across its financial reports and the battle soon came to a halt. The Australian Travel Industry Association's (ATIA) CEO Dean Long told the days of nosediving airfares were long behind us. 'I would love to see a price war, but I think it's highly unlikely,' Mr Long said. 'What both companies have said is that they're comfortable in the marketplace that they're currently playing and I think that means it won't be a market share battle like we saw in the Borghetti-era where he tried to take Virgin to Qantas.' Mr Turner was hopeful for heightened competition between the airlines but noted Australians continued to see stable capacity levels despite the fall of short-lived budget carrier Bonza last year and Rex withdrawing from inter-city routes. 'As more capacity comes on, we think the airfares will tend to become more competitive,' he said. Mr Thomas was adamant Virgin going public will pose 'serious competition' for Qantas, but the Flying Kangaroo's Project Sunrise plans, where it will fly directly from Australia's east coast to London and New York, puts it ahead of Virgin. 'It'll be competition, but it'll be healthy competition and I think it would just help to grow the market,' he said. Qantas in March once again postponed the start of Project Sunrise to 2027, delaying the start time for when the National Carrier's on-order A350-1000 jets will operate the 20-hour flights. It follows the start date being delayed in early 2024 as the flights were initially slate to kick off in 2025. Virgin's share price Every company strives for profit whether they are public or private, but the presence of shareholders and the pressure to push up a share price can weigh on a business. Qantas' share price more than doubled since October 2023 but its value took a 28 per cent whack in the preceding three months when the mountain of reputational scandals rained hell on the carrier. The National Carrier illegally sacking staff and fraudulent sales practices, all while posting a record profit in the 2023 financial year, caught up with the airline and its shareholders. Mr Thomas said the Virgin executives should keep Qantas' tumultuous behaviour both during and after the pandemic in mind as it undergoes its revamp. 'Where Qantas probably got too entrenched in shareholder value and less about consumer concern, I think will be a very valuable lesson for Virgin,' he said. Travel industry figures are hoping Virgin going public could spark a positive change as it looks to deliver long-term profitability. Mr Long said the team at ATIA wanted the carrier to shift from a private equity mindset towards an attitude where it has to generate a solid return to bolster shareholder value. 'We're hopeful that as it becomes listed there should be some improvements in fleet and some improvements on some of the ground product and how they work with corporate Australia,' he said. The Flight Centre boss also stressed the carrier will need to deliver a 'very competitive' product compared to Qantas to ensure its share price can thrive. 'I think most executive teams and Virgin's, I'm sure knowing them, realise that service standards have to come up to a certain level and so that's important for the share price as much as the profitability,' Mr Turner said. But Virgin may not only have Qantas to worry about as it seeks to drive its stock price. This is a point Morningstar analyst Angus Hewitt makes in his company's report where the financial services firm argues Virgin's value is $2.60 rather than the $2.90 IPO. 'We don't think there will be only two airlines in Australia forever,' Mr Hewitt said. 'We think Australian airlines are over earning at the moment, and we expect this to attract competition in the medium.' Virgin and Qantas' domination of the domestic aviation space comes after Bonza and Rex both collapsed in 2024. Rex's demise is heavily attributed to its attempt to swoop in on the 'Golden Triangle' routes of Sydney-Brisbane-Melbourne after it purchased B737s off Virgin when it collapsed in 2020. Ruthless anti-competitive behaviour by the major players and an inability to secure slots at better times at Sydney Airport led the company to burn cash just to stay in the skies and ultimately withdraw from the ASX. As to whether Virgin meets a similar fate will be something Australians cautiously watch.
