Cyber risk management lessons from Optus data breach
The Optus data breach should serve as a reminder for all organizations that cybersecurity incidents are serious business risks that are costly to make right.
Although the alleged hacker purportedly responsible for the attack is now in police custody, the saga around trying to correct the damage has only just begun.
With 9.8 million customer records exposed, internal remediation could cost Optus billions of Australian dollars, one expert suggested to an Australian news outlet. The mobile phone network provider is also set to pay at least some of the costs incurred by federal and state governments for renewing passports—AUD$193 (U.S. $122) each—and perhaps for drivers’ licenses as well after pressure from Australian Prime Minister Anthony Albanese.