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COVID-19 Superannuation Claims STOPPED after $ 120,000 stolen for identity theft

Early retirement claims have been dropped after more than 100 Aussies lost $ 120,000 as a result of identity theft

  • Early access to the pension plan was stopped abruptly on Friday
  • Up to 150 Australians lost $ 120,000 in super funds after a tax agent was hacked
  • Fraudsters have had access to personal super details during a cyber attack
  • The Australian Federal Police and tax authorities are investigating the theft
  • Under the scheme, nearly $ 1 billion in super funds have been withdrawn

Early access claims have been suspended by the ATO after 150 Australians lost $ 120,000 as a result of identity theft.

Home Secretary Peter Dutton said on Friday that client pension data was used “fraudulently” after a tax agent was hacked.

Dutton said Australian federal police, ATO, financial intelligence agency AUSTRAC and other government agencies are investigating identity theft.

Australians had withdrawn nearly $ 1 billion in total in their pension fund as of Thursday.

Home Secretary Peter Dutton (pictured) said on Friday that pension records of up to 150 clients were used fraudulently after a tax agent was hacked

Home Secretary Peter Dutton (pictured) said on Friday that pension records of up to 150 clients were used fraudulently after a tax agent was hacked

“There has been one tax advisor who has been the subject of a hack or cyber attack and exploited the personal information of customers who are part of that company,” said Mr. Dutton. Sky News.

“There has been no cyber intrusion within the pension funds or the ATO.

“The AFP has really stepped up their commitment to make sure we can be very hard on those who would try to deduct other taxpayers’ funds.”

The Interior Minister said government agencies “jumped pretty quickly to deal with this threat.”

Application page for Australians to get early retirement access

Application page for Australians to get early retirement access

Application page for Australians to get early retirement access

“There has been one tax advisor who has been the subject of a hack or cyber-attack and exploited the personal information of customers who are part of that company,” Mr. Dutton told Sky News. Picture: File image of a hacker

Assistant treasurer Michael Sukkar initially announced that claims of early super would be frozen while the alleged fraud was investigated earlier on Friday.

“Today we will be doing that process to make sure the ATO can’t do anything anymore,” he told Sky News.

More than 1.2 million Australians had filed to raise nearly $ 10 billion from their super funds to get them through the COVID-19 pandemic from Thursday.

Of the requested $ 10 billion, nearly $ 1 billion has already been withdrawn, including the stolen $ 120,000.

An applicant reportedly had their data stolen and lost $ 10,000 from his retirement account.

Almost $ 1 billion of the $ 10 billion requested has already been withdrawn - including the stolen $ 120,000 (stock image)

Almost $ 1 billion of the $ 10 billion requested has already been withdrawn - including the stolen $ 120,000 (stock image)

Almost $ 1 billion of the $ 10 billion requested has already been withdrawn – including the stolen $ 120,000 (stock image)

“A small number of people appear to have misused personal data in an attempt to defraud the program,” the ATO said in a statement Wednesday.

This has stopped and the affected persons are being contacted.

“The matter is currently under investigation by the AFP and for operational reasons, we cannot respond further at this stage.”

Under new rules to help people through the coronavirus crisis, Australians can raise $ 20,000 tax-free from their retirement fund.

Eligible applicants can receive $ 10,000 from their Super between April 20 and June 30, 2020, and another $ 10,000 during fiscal year 2020-21.

The average amount of each withdrawal is about $ 8,000, totaling $ 7.9 billion, said Treasurer Josh Frydenberg.

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