The cost for Singapore Telecommunications Ltd. to make good customers exposed to one of Australia’s worst data breaches risks wiping out more than one-quarter of its annual profit. Photo: AFP/File
The cost for Singapore Telecommunications Ltd. to make good customers exposed to one of Australia’s worst data breaches risks wiping out more than one-quarter of its annual profit. Photo: AFP/File
Australia

Data hack in Australia could cost Singapore Telecommunications more than US$400 million in profits

  • An unprecedented hack last week on Optus, a subsidiary of SingTel, led to the theft of personal data of 9.8 million customers in Australia
  • One estimate believes that compensation for Optus customers could equate to between US$420 million and US$560 million

The cost for Singapore Telecommunications Ltd. to make good customers exposed to one of Australia’s worst data breaches risks wiping out more than one-quarter of its annual profit. Photo: AFP/File
The cost for Singapore Telecommunications Ltd. to make good customers exposed to one of Australia’s worst data breaches risks wiping out more than one-quarter of its annual profit. Photo: AFP/File
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