Generation Development Group Reports Cyber Incident at Subsidiary

Summary

Generation Life reported a cyber incident in a limited part of its network, detected via a third-party provider and contained. The company says there is no evidence of unauthorized transactions or core-system impact; potential data impacts are under review.

Key points

• Generation Life reported that a cyber incident was detected in a limited part of its network via a third-party provider.
• The company says the incident was contained and there is no evidence of unauthorized transactions or impact on core systems.
• Business continuity plans were activated, with minimal operational disruption reported.
• Cybersecurity experts are investigating and assessing potential data impacts; affected advisers or clients will be contacted if identified.
• The company notified APRA, OAIC, ACSC and NOCS and said it will update the ASX about material developments.
• The article reports no impact on Evidentia Group or Lonsec Research & Ratings systems.