Security of Super Funds

[KnightsTour]

I heard there was a breach in First State Super a few years ago. If money is stolen from a super account, is there a recourse to get it back? If not, doesn't that mean some funds with better security systems should be preferred?

 

[Lantern]

Do you trust politicians with anything they say?

 

[Zaxon]

If money is stolen from a super account, is there a recourse to get it back?

I can't speak to money stolen from super specifically, but I did recently see a report of an accountant who stole money from his clients. Although the money was recoverable, the federal police seized the stolen funds under the Proceeds of Crime legislation, for themselves. The victims got none of it back.

 

[sptrawler]

And that is exactly why I run my SMSF, giving my hard earned money to someone to look after it, on the hope it will be there when I want it. I don't think so.

 

[qldfrog]

And the recovery was tricky. Not to say lucky...

UniSuper's Google Cloud environment was deleted

"Extensive recovery", rebuild operation underway.

www.itnews.com.au

 

[divs4ever]

*** iTnews understands that other Google Cloud customers have been seeking explanations and assurances from the provider this week about their own environments. ***

as you would once you become aware of such a vulnerability

one might wonder if such ( smaller ) events have happened elsewhere ( either at Google or their rivals )

but such questions were asked by enthusiasts at a seminar over a decade ago ( and received assurances not answers )

interesting was 'both geographies ' ( not two of several? )

i suppose no-one at UniSuper is skilled enough to ask the deep inquisitorial questions