Medibank hit with $250M penalty for cyber breach
APRA claims fine reflects “weaknesses identified in Medibank’s information security environment”.
APRA claims fine reflects “weaknesses identified in Medibank’s information security environment”.
Alleges privacy and consumer laws and data retention and protection legislation were breached.
Cyber crime cost Medibank $26 million as of 31 December.
Deloitte to examine incident, control effectiveness and the response of Medibank.
Police claim to know the identities of those behind the breach.
Lack of cyber insurance means the incident will cost Medibank between $25 and $35 million