The super fund scouring the dark web to protect members

A compromised identity could result in financial harm, including the loss of superannuation savings, a particularly prominent risk given the volume of members' personal data available for sale.

- Andrew McKean

Commonwealth Superannuation Corporation (CSC) is fighting back with a novel approach.

The dark web market is booming, tipped to reach US$1.3 billion by 2028. On it, identity kits that include passports, bank logins, and access to social media accounts are being sold at a low cost.

CSC is digging through the dark web to identify potential breaches involving its members — many of whom are “sensitive” personnel in the government and Australian defence force — and is contacting affected individuals to let them know what data is out there and what actions they need to take.

CSC head of security, compliance and service delivery Daminda Kumara told Financial Standard that the dark web data spike took off after the pandemic, likely due to greater technology reliance by organisations, which criminals were quick to exploit.