Cbus struck by “unusually high spike in log-in attempts”

Cbus has actually verified its participants were additionally targeted in an extensive strike on superannuation funds, with a “spike in log-in attempts” setting off multi-factor verification triggers for some customers.

The fund stated that a “small number of accounts may have been impacted” by the destructive task.

It stated the accounts were “proactively deactivated” which participants “are being contacted”.

“This cyber incident occurred several days after the reported attack impacting several other super funds,” Cbus said in a statement.

“It is not clear if the incident is related to the other attacks and investigations are continuing.”

Cbus signs up with AustralianSuper, Rest Super and Insignia Financial in being captured up in the event.

Insignia said late last week [pdf] that a system utilized by economic consultants was targeted.

Cbus – and various other funds consisting of AustralianSuper – stated that the timing of the strike, accompanying substantial volatility in worldwide economic markets, had actually left them fielding high quantities of inquiries from clients regarding account equilibriums.

Cbus stated that its “unusually high spike in log-in attempts coincided with a time of significant market volatility potentially causing increased member engagement.”

AustralianSuper also suggested that account equilibrium problems were most likely to be the outcome of market activities instead of the cyber event.

“If you see a reduction in your account balance you weren’t expecting, this does not necessarily indicate fraudulent or suspicious activity on your account,” the fund stated.

“Global markets are experiencing even more volatility than typical.

“It’s important to remember that market ups and downs are a normal part of investing.”

AustralianSuper additionally taped a video clip with its CTO Mike Backeberg looking for to assure participants of the event feedback initiatives.