Superannuation bosses warn that hackers will again target Government's coronavirus early release scheme
ABCThe superannuation industry is warning that fraudsters will again target the early release superannuation scheme unless the Federal Government urgently boosts protections. Key points: The scheme was suspended last month after hackers infiltrated the system Industry bosses have written to Treasurer Josh Frydenberg to demand new checks and balances The second tranche of the scheme will begin on July 1 The Coalition briefly suspended the program last month after the Australian Tax Office revealed criminals used stolen identity records to infiltrate the system, targeting at least 150 Australians. Now the industry's major representative bodies have written to regulators and the Treasurer Josh Frydenberg, imploring the Government to introduce new checks and balances before the scheme's second tranche begins on July 1. In the letter, the peak bodies — Industry Super Australia, the Association of Superannuation Funds of Australia and the Australian Institute of Superannuation Trustees — warn that criminals may see early release superannuation as a soft target.
History of this topic
Super release slows but almost 3 million Australians have sucked billions from retirement savings
ABCCoronavirus superannuation early withdrawal scheme hits $25 billion as new financial year starts
ABCAFP freezes accounts suspected of defrauding coronavirus superannuation scheme
ABCCoronavirus has forced Samuel to dip into his superannuation and he is concerned about the long-term impact
ABCCoronavirus support measures see hundreds of thousands of Australians access superannuation early
ABCMore than 360,000 Australians apply for early release of superannuation under coronavirus assistance scheme
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