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Another cyber breach on an Australian organisation - this time on Westpac, Australia's oldest bank

Westpac is also one of four major banking organisations in Australia.

Westpac confirmed on 3 June 2019 that the bank detected mis-use of the PayID functionality where cyber criminals targeted the real-time payments platform PayID, which allows the instant transfer of money between banks using either a mobile number or email address.

Apparently the private details of almost 100,000 Westpac customers could potentially be exposed and seen by the cyber criminals.

PayID allows anyone to enter a mobile number or email address to confirm the name of the corresponding account holder and cyber criminals generally uses brute-force to either guess or confirm valid users in a system. As the platform 'bridged' transfers of money between banks, it is believed details of customers from other banking organisations could be compromised too in this incident.

Are these cyber criminals hiding behind the Bamboo curtains?

No apparent attempts however were made to investigate and identify these perpetrators though. Hmmmm ....


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