Westpac suffered a massive cyberattack that exposed private details of around 100,000 of its customers earlier this month. The attack specifically exploited Westpac’s PayID, an application that allows its users to conveniently transfer money by just simply entering the receiver’s phone number.
This simple banking process was vulnerable enough for cybercriminals to manipulate the system by generating a series of random numbers to successfully formulate a Westpac-registered number. This will reveal the customer’s name and other private information. It has been reported that there were about 7 fraudulent accounts made in order to proceed with the attack.
A spokesperson from Westpac Group confirmed the cyberattack, but maintains that “no customer bank account numbers were compromised.” Additionally, Westpac claimed that there have been no further inappropriate activities that have been detected after the initial report.
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