In the digital age, applications and platforms are now heavily tied to personal and financial security.

The nightmare of cyber theft could be a reality on days we least expect it.

For one unsuspecting pensioner, this nightmare became a harrowing ordeal.


A 74-year-old Queensland woman, who remained anonymous, faced the devastating prospect of losing nearly all her life savings due to a series of unauthorised withdrawals.

Scammers drained a staggering $406,000 from her AustralianSuper account.

These transactions occurred days before a massive hack affected some of Australia's most significant superannuation funds.

The coordinated cyber attack targeted industry giants, including AustralianSuper, REST, Australian Retirement Trust, Hostplus, and MLC Expand.


Over a week, which started on 20 March, six withdrawals were made from the pensioner's account.

The alarm bells only rang when she received letters from AustralianSuper, which confirmed two substantial withdrawals.

When AustralianSuper contacted her on 28 March, 90 per cent of her savings had already vanished.

While AustralianSuper froze her account, the damage had been done.


The woman's distressing situation highlighted the vulnerability of personal and financial information and the importance of protecting it.

AustralianSuper, which has confirmed member losses after the recent cyberattack, has assured the pensioner that her account would go back to its original state.

AustralianSuper's Chief Member Officer, Rose Kerlin, personally reached out to the victim and expressed regret over the distress caused by the criminal attack.

'And we have spoken to her again on Monday to confirm her account is back to the position it would have been had the fraudulent activity not occurred,' Ms Kerlin said in an interview.

'AustralianSuper's policy on these issues is decided 'on a case-by-case basis. We have now thoroughly investigated the incidents in which money was transacted out of a member's account, and all of those are being remediated.'

'AustralianSuper is deeply sorry about the distress caused by this criminal attack, and we are working with affected members to help protect their accounts,' Ms Kerlin added.

However, the senior lady's experience was not an isolated case.


AustralianSuper member Samantha Burns reported a similar experience and alerted the fund about suspicious activities in her account as early as late February.

Despite assurances that the issue was being addressed, concerns still arose about security measures placed by super funds.

The fund took action upon noticing a spike in suspicious activity and has reported the incident to various authorities, including the police and the Australian Cyber Security Centre.

Other funds affected by the cyber heist also secured their members' accounts.

REST recently shut down its member access portal.

Meanwhile, MLC Expand urged their customers to reset their passwords.

In a previous article, Prime Minister Anthony Albanese acknowledged the cyber attack on super funds and cited its frequency in Australia.

Here are some steps you can take now to protect your finances, especially your superannuation:

• Regularly change your passwords and ensure they are strong and unique.
• Monitor your accounts frequently for any unauthorised transactions.
• Set up multi-factor authentication where available for an added layer of security.
• Be wary of phishing emails or suspicious messages that ask for personal information.
• Keep your software and antivirus protection up to date.
• Contact your super fund immediately if you notice anything amiss.

While the government is preparing for a response to prevent these attacks, this incident should be a reminder that seniors' financial well-being could be compromised in the blink of an eye.
Have you checked your super fund lately? If you have experienced similar issues recently or have tips on protecting your finances, please share your insights in the comments below.