MPL - Medibank Private

[frugal.rock]

The current situation looks difficult for them.

Yep. Hacked and now sussspended from trading from mid morning trade.

Medibank admits personal data stolen in cyber attack

The private health insurance company admits that the personal data of some of its customers — including names, addresses, Medicare numbers and phone numbers — has been stolen in a cyber attack.

www.abc.net.au

 

[divs4ever]

Yep. Hacked and now sussspended from trading from mid morning trade.

Medibank admits personal data stolen in cyber attack

The private health insurance company admits that the personal data of some of its customers — including names, addresses, Medicare numbers and phone numbers — has been stolen in a cyber attack.

www.abc.net.au

have been watching this from afar ( i do not hold , directly and am not a customer ) i suspect the 'trickle-truth tactic ' used here will not bode well for shareholder confidence , in the coming year or two .

i had expected persistent government meddling to wreck this niche of insurance , maybe i am wrong this time ( or late knee-jerk government regulations will add to the carnage )

 

[Craton]

Data breach worse that first reported and I'm one of the (presumably) affected customers although, have not been contacted via phone directly. Plenty of emails of course.
One biggie that MPL, as an insurer, has failed to do is have cyber insurance. Hmm... that was a very silly oversight. Also, a lot as been made that ransomware wasn't/hasn't been involved.

Couple of things that MPL have or are doing that I do like.
1. Returning straight back into my bank account a couple hundred $$$ due to Covid. Need to check but I think this was two years in a row.
2. Deferred the slated premium increase until Jan next year.

From what's been reported, the upshot is that the hack was via an internal high level login. My question is how did the criminal obtain those login credentials?
Disgruntled employee, hacked employee account, cohesion, extortion, threats to life and limb, greed etc etc etc.
Am very interested in how that account was compromised. Big lesson for any business no matter how big or small.

Down 58c last time I looked, up to a reported $35m hit to the balance sheet so no doubt all and any failout (compensation, fines etc) will impact on my MPL divvy too.

One more thing. The cynic in me cannot help but suspect that with all the data breaches of late, large swathes of money have been "invested" by nation states via any means necessary. Yes, including threats to life, family and friends et all because just the other day, this come to mind.

From the USA DoJ:

Two Arrested and 13 Charged in Three Separate Cases for Alleged Participation in Malign Schemes in the United States on Behalf of the Government of the People’s Republic of China​

 

[Gringotts Bank]

Data breach worse that first reported and I'm one of the (presumably) affected customers although, have not been contacted via phone directly. Plenty of emails of course.
One biggie that MPL, as an insurer, has failed to do is have cyber insurance. Hmm... that was a very silly oversight. Also, a lot as been made that ransomware wasn't/hasn't been involved.

Couple of things that MPL have or are doing that I do like.
1. Returning straight back into my bank account a couple hundred $$$ due to Covid. Need to check but I think this was two years in a row.
2. Deferred the slated premium increase until Jan next year.

From what's been reported, the upshot is that the hack was via an internal high level login. My question is how did the criminal obtain those login credentials?
Disgruntled employee, hacked employee account, cohesion, extortion, threats to life and limb, greed etc etc etc.
Am very interested in how that account was compromised. Big lesson for any business no matter how big or small.

Down 58c last time I looked, up to a reported $35m hit to the balance sheet so no doubt all and any failout (compensation, fines etc) will impact on my MPL divvy too.

One more thing. The cynic in me cannot help but suspect that with all the data breaches of late, large swathes of money have been "invested" by nation states via any means necessary. Yes, including threats to life, family and friends et all because just the other day, this come to mind.

From the USA DoJ:

Two Arrested and 13 Charged in Three Separate Cases for Alleged Participation in Malign Schemes in the United States on Behalf of the Government of the People’s Republic of China​

Dreadful, murky business.

I hope those in charge of maintaining our critical infrastructure networks know what they're doing. Water/elec/gas, etc.

Big money for any tech company that can devise an unhackable database. I know plenty have tried.

 

[martaart077]

Dreadful, murky business.

I hope those in charge of maintaining our critical infrastructure networks know what they're doing. Water/elec/gas, etc.

Big money for any tech company that can devise an unhackable database. I know plenty have tried.

Misplaced hope.

 

[Craton]

There was also some talk of this being a magecart attack.

Web skimming, formjacking or a magecart attack is an attack where the attacker injects malicious code into a website and extracts data from an HTML form that the user has filled in. That data is then submitted to a server under control of the attacker.

 

[Craton]

Then of course there's the MageCart hacker group!

 

[sptrawler]

Big trouble in the office, code red. ?

Complete shutdown: Medibank to close all stores, call centres​

Australia’s No. 1 health insurer will close its retail stores, customer contact centres and IT systems this weekend.

 

[Craton]

As above and a more complete picture, from the Medibank website:

Cybercrime updates and support​

Planned outage to Medibank systems

Medibank and ahm systems will be temporarily offline from 8.30pm (AEDT) on Friday 9 December 2022 as we undertake some maintenance to further strengthen our systems and enhance security protections.

This is a planned operation with Microsoft and is the next necessary phase of our ongoing work to further safeguard our network. We expect the systems will be back online Sunday 11 December 2022 at the latest.

During the operation, customers won’t be able to access Medibank or ahm services through the website or app, and HICAPS won’t be available for claiming on the spot. Our retail stores and customer contact centres will also be closed Saturday 10 December 2022.
Our contact centres and retail stores will reopen on Monday 12 December 2022.

Amplar Health services such as our 24/7 critical health support lines will not be impacted by the operation.

We apologise for the inconvenience this may cause and thank you for your understanding.