Australia has announced it will ban all $50 notes, including the $5, $10 and $20 notes, after the country was hit by a massive cyberattack.
The new ban is effective from today.
The Australian Bureau of Statistics (ABS) said the country’s currency, the Australian dollar, was hit in early October by a series of attacks that compromised the systems of a dozen financial institutions, including two major banks, the Commonwealth Bank and Westpac.
They were also hit by two other attacks on banks in February and July.
The banks were not immediately available for comment.
The attack on the Commonwealth, which was first reported by Reuters, left more than $30 million in funds frozen and caused the bank to temporarily halt its day-to-day operations.
The bank said it was working with Australian authorities to help customers who lost funds.
A total of 2,500 Australians were affected, according to the Australian Banking Association.
ABC News Australia’s Nick O’Brien has more on the bank’s experience.
The attacks were carried out by two groups of hackers that also attacked a number of financial institutions in the US.
The hackers targeted financial institutions that handle money for major corporations and other organizations that have significant operations in Australia.
Some of the victims were Australian citizens, according the Australian Securities and Investments Commission.
Some people reported losing money, others had to cancel transactions and others lost large amounts of money, according AFP.
The affected institutions were also targeted by another group, also linked to the group behind the attacks.
The group that attacked the Commonwealth was called “Aboriginal Network”.
It used a sophisticated attack technique that was not detected by any of the banks involved in the attack, the AFP reported.
The ABC’s David Ransom reports from Sydney.
AUSTRALIA: Banks hit by cyberattack: 1.
Commonwealth Bank of Australia: $5.6bn2.
Westpac Banking Corp: $6.6m3.
Australian Government: $2.3bn4.
West Coast Power: $1.9bn5.
Commonwealth of Australia (formerly Westpac): $2m6.
West Australian Bank: $750m7.
West Central Bank: $$1.4bn8.
Commonwealth Trust Bank: “$2.1bn”9.
Western Australia Bank: ($1.2bn)10.
West Federal Reserve: $500m11.
Commonwealth Power and Communications: $700m12.
Australian Bankers Association: $350m13.
Commonwealth Financial Services Association: €1.3m14.
Commonwealth Treasury: $900m15.
Australian National Bank: €300m16.
WestPac Bank: A$2.7bn17.
WestCoast Power and Energy: A$$$2bn18.
Westfield Group: $600m19.
WestConnex Resources Ltd: $4.4m20.
WestLink Group: A $1bn21.
Western Power Networks Ltd: A£1.6 million22.
Commonwealth Scientific and Industrial Research Organisation: A€1.5m23.
WestVictoria Energy: €500,00024.
Westconnex Energy: $800,00025.
Westport Power & Light Ltd: €600,00026.
Commonwealth Banking Corporation: A €700,00027.
Commonwealth National Bank (CNB): A$1.8m28.
Commonwealth Reserve Bank: D$1,000,00029.
WestCentral Bank: N$1m30.
WestPeninsula Power Networks: N£400,00031.
WestSouth Power Networks (WestSouth): N£1m32.
Commonwealth Banks: A N$250,00033.
Westbank: A n$300,00034.
WestPondichera Power Networks Pty Ltd: N $300,00135.
Commonwealth Credit Union: Nn$500,00136.
Commonwealth Investment Bank: R$1 billion37.
Commonwealth Savings Bank: C$1bn38.
Commonwealth Government: C€1 billion39.
Commonwealth Public Service Employees’ Union (CPSU): A €400,001.40.
Commonwealth University of Technology (CUT): A nn$400,002.41.
Commonwealth Research Council (CRC): A $300m43.
Commonwealth Energy Regulator: An$2m44.
Commonwealth Land Services (CLS): A€500,004.45.
Commonwealth Health and Medical Research Council: A £500,003.46.
Commonwealth Hospital (HSC): A £250,001,002,500,014.
Commonwealth Institute of Criminology: A+$400m47.
Commonwealth Business Council: Nc$200,00049.
Commonwealth Insurance Corporation: Cn$150,00050.
Commonwealth Office of Finance: Nk$300m51.
Commonwealth Agricultural Research Councils: N-A$100,00052.
Commonwealth Education and Training Corporation: N £150,001 and