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Giant data hack in Australia risks eating into SingTel's profit

Bloomberg
Bloomberg9/29/2022 12:15 PM GMT+08  • 3 min read
Giant data hack in Australia risks eating into SingTel's profit
Optus, SingTel’s Australian mobile phone business, revealed hackers accessed the information of some 9.8 million customers.
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The cost for Singapore Telecommunications (SingTel) to make good customers exposed to one of Australia’s worst data breaches risks wiping out more than one-quarter of its annual profit.

Optus, SingTel’s Australian mobile phone business, last week revealed hackers accessed the personal information of as many as 9.8 million customers — over one-third of the population. Some 2.8 million of them lost details of passports, drivers licenses or government-issued medical identity cards, triggering concerns about large-scale identity fraud, according to the government.

One week after the hack was disclosed, the scale and the fallout — as well as the potential costs for Optus — are growing.

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