By Kyle Brasseur2023-06-28T13:18:00
The Australian Prudential and Regulation Authority (APRA) will require Medibank Private to hold 250 million Australian dollars (U.S. $166 million) in extra capital until the insurer remediates identified cybersecurity weaknesses after a significant data breach.
The action by APRA, announced Tuesday, follows a cyber incident last year in which 9.7 million past and present Medibank customers had their data stolen by a hacker. The data exposed included first and last names, addresses, dates of birth, Medicare numbers, policy numbers, phone numbers, and some claims data.
The incident was one of the most significant data breaches ever experienced in Australia, said APRA, the country’s prudential regulator of the financial services industry.
2023-06-22T21:15:00Z By Aaron Nicodemus
Compliance teams are taking more responsibility for issues related to information security and data privacy, motivated by increasing threats posed by data breaches and cyber intrusions, according to a new survey from NAVEX.
2023-06-14T17:50:00Z By Neil Hodge
A ransomware attack affecting some of the U.K.’s largest corporations has highlighted once again how exposed organizations can be if the levels of cybersecurity used by their third parties are not as strong as expected.
2023-06-08T20:06:00Z By Adrianne Appel
About 83 percent of data breaches are perpetrated by external bad actors and not employees, with 70 percent of those breaches linked to organized crime groups with financial motives, according to the latest research.
2025-09-17T17:20:00Z By Adrianne Appel
A Florida seafood company executive has pleaded guilty to conspiring with competitors to fix the prices he paid to local fishers, an effort that impacted more than $8 million in wholesale fish and cut the pay of hundreds of fishers, the Department of Justice said.
2025-09-16T20:11:00Z By Adrianne Appel
The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
2025-09-12T19:40:00Z By Oscar Gonzalez
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
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