Data breach leaves PayID banking details exposed for Australian consumers

Thursday 22 August 2019 10:31 CET | News

Australians have been alerted about a breach that saw their PayID details and data of some bank customers accessed.

PayID is a service that enables users to identify their bank account and use it to send or receive money. It has been introduced to Australia as part of the New Payments Platform (NPP). New Payments Platform (NPP) Australia is a real-time payments platform mutually owned by 13 major financial institutions.

NPP said that PayID usernames, account numbers, mobile numbers, BSBs and account numbers were exposed by a vulnerability in one of the financial institutions sponsored into the NPP by Cuscal Limited.

However, the exposed details were not enough to lead to theft, NPP Australia added. Financial institutions whose customer details were exposed have been told about the data breach. As a result, they will be notifying affected customers and keeping a closer eye on affected accounts.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: PayID, data breach, identifier, bank details, online security, fraud prevention, Australia, New Payments Platform, NPP
Countries: World

Industry Events