First State Super is a not-for-profit Australian

Australia

Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...

 asset and wealth management company. It provides investment, superannuation and insurance, initially to New South Wales

New South Wales

New South Wales is a state of :Australia, located in the east of the country. It is bordered by Queensland, Victoria and South Australia to the north, south and west respectively. To the east, the state is bordered by the Tasman Sea, which forms part of the Pacific Ocean. New South Wales...

 government employees, but is now open to anyone eligible for superannuation. It is one of Australia's largest superannuation funds, with more than $30 billion in funds under management and over 770,000 members.

One of their funds won the Money Magazine Best of the Best 2011 Lowest-Cost Super Fund and Lowest-Cost Pension Fund.

Controversy

In September/October 2011, First State Super had a security vulnerability discovered by a customer (Patrick Webster), who was also a security researcher and Metasploit developer. Considerable negative publicity occurred nationally and internationally, both for the severity of and ease of compromise of the exploit, and also for the actions and public relations that occurred in the aftermath of the notification.

The Federal Privacy Commissioner

Privacy Act 1988

The Privacy Act 1988 is an Australian law dealing with the privacySection 14 of the Act stipulates a number of privacy rights known as the Information Privacy Principles. These principles apply to Australian Government and Australian Capital Territory agencies or private sector organisations...

is investigating the event.

External links

• First State Super - Official Site