The Latest Breaking News from Medibank

Medibank's hacking debacle results in the company's market value plunging by $1.6 billion, ANZ is fined $25 million for misleading customers, while the local share market rises for its third straight day as Australian inflation hits a 32-year high.

Cyber security experts say the data hack on Medibank is shaping up as far worse than the one against Optus. The healthcare provider has now revealed the breach on its customers data could impact at least 4 million people.

Medibank has revealed a cyberattack was bigger than initially believed and general customer data was exposed.

Medibank has revealed that a cyber attack on its customer data was much more serious than originally thought.

Up to four million current Medibank customers may have had their data stolen, along with countless past customers. Distressingly, the data of children linked to their parents' accounts may have also been impacted.

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View forming within Medibank that details were then sold on a Russian-language cybercrime forum

Australia has proposed tougher penalties for companies that fail to protect customers’ personal data after two major cybersecurity breaches left millions vulnerable to criminals

The financial penalty imposed on companies that suffer serious or repeated privacy breaches will be increased to at least $50 million.