Latest news with #identityprotection
Forbes
6 hours ago
- Business
- Forbes
6 Million Impacted In Qantas Airlines Data Breach
QANTAS is the flag carrier for Australia. getty Qantas Airways, Australia's flagship carrier, has confirmed a significant cyber incident impacting the personal data of millions of its customers. The breach, which targeted a third-party customer servicing platform used by one of Qantas' contact centers, was swiftly contained, but not before sensitive information was accessed by cybercriminals. On Monday, Qantas detected unusual activity on a third-party platform integral to its customer service operations. Immediate action was taken to contain the breach, and the airline has since confirmed that all core Qantas systems remain secure and unaffected. The company emphasized that there is no impact on flight operations or passenger safety. The compromised platform contained service records for approximately six million customers. While the full extent of the data breach is still under investigation, Qantas expects the proportion of data stolen to be 'significant.' An initial review revealed that the exposed data includes: Names Email addresses Phone numbers Birth dates Frequent flyer numbers Importantly, no credit card details, personal financial information or passport details were stored on the affected system. Qantas also confirmed that frequent flyer accounts, passwords, PINs and login details were not accessed. The airline has established a dedicated customer support line and a special information page on its website. Customers are being provided with specialist identity protection advice and resources. The company has also notified the Australian Cyber Security Centre, the Office of the Australian Information Commissioner and the Australian Federal Police. Qantas is cooperating with authorities and has engaged independent cybersecurity experts to assist with the investigation and bolster its defenses. Qantas Group CEO Vanessa Hudson acknowledged the seriousness of the breach, stating, 'we sincerely apologize to our customers and we recognize the uncertainty this will cause. Our customers trust us with their personal information and we take that responsibility seriously. Our focus is on providing them with the necessary support.' Qantas advises that no action is required for upcoming travel, and customers can continue to check flight details via the Qantas App or website. Those seeking more information or support can contact the dedicated helpline at: Helpline: 1-800-971-541 1-800-971-541 International Helpline: +61-2-8028-0534 The Bigger Picture This incident underscores the risks posed by third-party platforms in the airline industry and beyond. As companies increasingly rely on external vendors for customer service and data management, robust cybersecurity protocols and vigilant monitoring are more critical than ever.
Finextra
23-06-2025
- Business
- Finextra
The UK's moment to lead digital verification: A roadmap to economic growth and financial security
0 This content is contributed or sourced from third parties but has been subject to Finextra editorial review. As London Tech Week unfolds, the spotlight is on the technologies shaping our future, and one of the most important is digital verification. With more of our lives happening online, from banking to healthcare to everyday shopping, the need for secure, reliable ways to prove who we are has never been greater. That's why digital verification is high on the agenda this year. The UK has a unique opportunity to lead the way by creating a national Digital Verification Service (DVS) - a secure system that could transform how we protect identities, fight fraud, and grow our economy. A recent report by the City of London Corporation and EY estimates that a well-designed DVS could unlock over £4.8 billion in economic benefits by 2031. But to get there, we'll need smart investment, strong leadership, and close collaboration between government, industry, and tech innovators. Investing in the future of finance The digital economy is changing how we live and work. In financial services especially, digital verification is becoming essential. As AI and cyber threats grow more complex, we need better tools to protect people and businesses. A national DVS would act as the backbone of the UK's digital economy. It would help banks, insurers, fintechs, and others verify identities quickly and securely cutting costs, reducing fraud, and improving customer trust. To make this vision a reality, the government must take the lead. That means setting clear rules, building a strong governance framework, and encouraging partnership. One key recommendation from the City of London report is to scale an independent body to manage the DVS. This group would ensure the system is secure, transparent, and trusted helping to attract more investment and innovation in the UK's digital economy. A £4.8 billion opportunity The numbers speak for themselves. Investment in the UK's digital verification sector jumped from £90 million in 2014 to £2.5 billion in 2023. That growth shows just how much demand there is for secure digital ID solutions. With the right framework, a national DVS could: Faster, more secure onboarding and compliance will improve efficiency and customer experience Boost innovation and investment Make the UK more competitive globally Tackling fraud: A national priority Fraud is one of the biggest threats facing global financial services. In 2023, in the UK alone, financial institutions reported billions in losses, much of it linked to identity theft. A national DVS could be a powerful tool in the fight against these crimes. By using secure digital IDs, banks and other organisations can verify identities more accurately and quickly. This makes it much harder for criminals to impersonate others, helping to stop fraud before it happens. It also reduces the cost of fraud prevention and compliance, saving money for businesses and, ultimately, consumers. Building trust through strong governance For a digital verification system to work, people need to trust it. That means having clear rules, strong privacy protections, and a system that's transparent and well-managed. The City of London Corporation's report recommends scaling an independent DVS to act as a trusted mid-point. This would enable information to be shared securely between customers and institutions. This body would make sure the service meets high standards, protects personal data, and works in the public interest. With the right oversight, the UK can build a system that's not only effective but also earns the trust of the public and the business community. The UK's path forward The UK is at a turning point. As the digital economy grows, so does the need for secure, reliable ways to prove who we are online. A national Digital Verification Service could be the key to unlocking safer financial services, reducing fraud, and driving billions in economic growth. This is why digital verification is such a hot topic at London Tech Week. It's not just a technical issue - it's a national opportunity. With the right leadership, investment, and collaboration, the UK can lead the world in building a digital economy that's secure, inclusive, and built for the future. Now is the time to act. By embracing digital verification, the UK can protect its citizens, strengthen its financial system, and secure its place as a global leader in digital innovation.
Yahoo
23-06-2025
- Business
- Yahoo
How Is Gen Digital's Stock Performance Compared to Other Software - Infrastructure Stocks?
Valued at a market cap of $18 billion, Tempe, Arizona-based Gen Digital Inc. (GEN) is a leading provider of cyber safety solutions for individuals, families, and small businesses. Its portfolio includes well-known brands such as Norton, Avast, LifeLock, Avira, AVG, CCleaner, and ReputationDefender. Companies valued at $10 billion or more are generally classified as 'large-cap' stocks, and Gen Digital fits this criterion perfectly, exceeding the mark. The company delivers trusted services in cybersecurity, online privacy, identity protection, and performance optimization. Robotaxis, Powell and Other Key Things to Watch this Week The 7 Signs Your Stock Is A Buyout Target Looking to Gamble on Hard-Hit Solar Stocks? This Is the Top-Rated Ticker Now. Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! Shares of Gen Digital have dipped 8.5% from its 52-week high of $31.72. GEN stock has increased 6.1% over the past three months, underperforming the broader iShares Expanded Tech-Software Sector ETF's (IGV) return of 12.8% during the same period. Longer term, GEN stock has soared 19.1% over the past 52 weeks, lagging behind IGV's 23.9% return over the same time frame. However, Gen Digital's shares have risen 5.4% on a YTD basis, slightly outpacing IGV's 4.9% gain. The stock has climbed above its 50-day and 200-day moving averages since early May. Shares of Gen Digital surged 8.2% following its strong Q4 2025 results on May 6, with adjusted EPS of $0.59 exceeding estimates and rising 11.3% year-over-year. Revenue grew 5% to over $1 billion, driven by heightened demand for AI-powered cyber safety solutions amid rising digital threats. The company reported an increase in its direct customer base to 40.4 million and improved its customer retention rate to 78%. Additionally, an upbeat fiscal 2026 guidance, projecting up to $4.8 billion in revenue and EPS as high as $2.56, fueled investor confidence. In comparison, its rival, Microsoft Corporation (MSFT), has underperformed GEN stock, with shares of MSFT rising nearly 6% over the past 52 weeks. Nevertheless, MSFT stock has gained 13.1% on a YTD basis, exceeding GEN's performance. Despite the stock's outperformance relative to its industry peers over the past year, analysts are cautiously optimistic, with a consensus rating of "Moderate Buy" from seven analysts. It is currently trading below the mean price target of $32.28. On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
