A coordinated investigation by two Australian regulators will examine how the telecommunications company handled customers' personal information.
(ACCC) also says it's receiving many complaints from people about Optus-related scams.
The company is now under investigation by two Australian regulators - the Office of the Australian Information Commissioner and the Australian Communications and Media Authority.
In a statement, the Office of the Australian Information Commissioner said the probe will focus on "whether the Optus companies took reasonable steps to protect the personal information they held and if "the information collected and retained was necessary to carry out their business."
The commissioner says Optus could be fined up to several million dollars if the investigation uncovers serious or repeated interferences in contravention of Australian privacy law.
Consumer watchdog the ACCC, today told a parliamentary committee it's being flooded with Optus-related complaints
Gina Cass-Gottlieb - the ACCC Chair - says the regulator is receiving around about 600 complaints a day.
„The message we are getting from these reports is firstly that many of the consumers are confused about the information they are receiving or are not receiving from Optus so they are anxious. And they don't feel they know sufficiently what is the impact on them and the risks they face.“
Ms Cass-Gottlieb says scammers are taking advantage of the data breach posing as representatives from Optus or as Equifax - the credit reporting agency tasked with supporting victims.
So far, she says there have only been a few instances where the fraudsters have been successful but the number of people being targeted...a concern.
„What we can see is it's only a small number of people who have become a victim to a scam, but many are alert to it and are most of all confused and anxious.“
Ms Cass-Gottlieb noted that while its positive to see more people alert to scam risks, Australians are increasingly vulnerable to financial fraud.
She says the threat is growing year on year and is costing the nation billions annually.
„It results in families losing their entire savings - the trauma at an individual level for families is incredibly significant. At an economy wide level we're losing the effect of what would otherwise be savings and consumption.“
Australians lost an estimated two billion dollars to scams in 2021, more than double the figure from the previous year.
The ACCC is calling for the establishment of a 'national scam centre' saying it does not have the resources to tackle the issue alone.
