Alleged problems with Australia’s myGov responsible for $373M losses

Australia has reportedly admitted that the nation has been defrauded of at least AU$557 million (US$373 million) in just the last two years.

Investigative journalists with the Australian broadcaster ABC say the government have acknowledged the problem. The broadcaster says "a glaring security gap" allowed the theft.

Fraudsters allegedly created fake accounts with the Australian Taxation Office in the government's single sign-on service, myGov. The service was created to make it easier and more secure to access government programs, including …

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