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Infostealer Malware Exposes Over 30,000 Australian Banking Credentials

Malware targeting personal devices compromises data from major banks, prompting calls for coordinated action to enhance cybersecurity.

A grapic depicting a computer infected with malware for a story about stolen banking passwords.

Overview

  • More than 30,000 Australian banking credentials were harvested over four years via infostealer malware infections on personal devices.
  • The exposed data includes details from customers of Commonwealth Bank, NAB, ANZ, and Westpac, with one bank seeing 10,000 accounts affected.
  • The Australian Banking Association confirmed the breaches originated from infected customer devices, not bank security systems.
  • Multi-factor authentication, while widely used, has been deemed insufficient to fully protect against such malware attacks.
  • Experts and institutions urge a unified response involving banks, government agencies, cybersecurity professionals, and the public to address endpoint vulnerabilities and prevent financial fraud.