ATO provides cyber security tips for Self Managed Super Funds

ATO provides cyber security tips for Self Managed Super Funds

In the wake of the recent Optus cyber attack, the ATO and Australian Cyber Security Centre has outlined some important steps to help trustees keep their data safe.

In the wake of the recent Optus cyber attack, the ATO and Australian Cyber Security Centre has outlined some important steps to help trustees keep their data safe.

Following the recent Optus data breach which saw the personal information of 10,000 customers exposed, it is crucial that individuals take necessary steps to protect their information from cyber criminals.

In an online update, the ATO warned that cyber criminals hack devices by using known weaknesses in systems or apps.

The ATO has advised that individuals check their devices for updates, and turn on automatic updates so that future updates are made straight away when charging and in a Wi-Fi connection.

The ATO said individuals should also ensure they’re using multi-factor authentication. Multi-factor authentication (MFA) is a security measure that requires at least 2 proofs of identity to grant access. MFA options can include a physical token, random pin or fingerprint. Using MFA significantly boosts your protection against criminals. While they might manage to steal one proof of identity, like your password, they will be locked out of your account without the other.

The ATO said it is also important to back up data by saving copies of files on an external storage device or an online server like the cloud. Backing up data means you can restore your important information if something goes wrong. Setting up automatic backups in your system or application settings will give you peace of mind.

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ATO provides cyber security tips for Self Managed Super Funds

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