Every week or month a company in Australia is falling prey to cyber attack and the latest to add to the list is TPG Telecom LTD. According to the sources reporting to our Cybersecurity Insiders, hackers accessed about 15k emails related to corporate customers that can prove as a serious threat in near future.
And as soon as the Internet Service provider (ISP) went public about the hack, its shares fell drastically, closing at 2.8%.
TPG is the world’s second ISP, having around 7.2 million accounts as customers. And the primary motive of the cyber criminals could be to search for businesses connected to cryptocurrency and finance.
The hack could have gone unnoticed if security experts from Mandiant did not discover it during their regular cyber audit.
After Optus and Medibank Private LTD, where a significant amount of information was leaked to hackers, TPG is the third confirmed business to have become a victim of a cyber-attack launched by a foreign nation.
Inadequate software updates to existing infrastructure, obsolete hardware and software, configuration errors, and some unknown vulnerabilities are leading to such cyber troubles.
However, the Australian Cyber Security Centre is ready to take initiative and is ready to financially support SMEs to reinforce their existing cyber landscape, provided a govt order is issued by the Anthony Albanese led administration.
NOTE- On December 12th,2022, the Finland government is the first nation to support SMEs to bolster their IT Infrastructure with a possible financial backup in voucher form.