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Optus faces $560 million bill to help customers affected by data breach

Posted On: Oct. 3, 2022 9:35 AM CST

Australia-based telecommunications company Singtel Optus Pty Ltd. could have to shell out between $420 million and $560 million to provide the necessary support to millions of customers who were affected by a recent ransomware attack on the company, The Straits Times reported citing Bloomberg. The estimated cost is nearly 25% of Optus’ parent firm Singtel’s annual profit of $1.44 billion for the year ended March 2022.