Early access to superannuation paused as police freeze $120,000 in allegedly stolen funds

‘Sophisticated’ identity theft attack leads to Australian Tax Office stopping early super withdrawals until Monday

Allegations of identity theft involving 150 Australians have forced the government to pause the early release of superannuation, after police froze $120,000 believed to have been ripped off from retirement savings.

On Friday the assistant treasurer, Michael Sukkar, announced the Australian Tax Office would pause requests for early access of superannuation until Monday “out of an abundance of caution” to consider further anti-fraud protection.

Related: Under-40s twice as likely to access their super early under coronavirus scheme, survey finds

Related: Should I access my super early during the coronavirus? Here’s how it will impact your money

Continue reading…

from Data and computer security | The Guardian https://ift.tt/2WzwJ2E