In response to a significant cybersecurity compromise that occurred at Optus, Australia's second-largest telco, 12 days ago, Singapore Telecommunications announced on Monday that it was estimating the possible cost.

In its second statement on the leak of private information from 10 million customers, Singtel sought to address rumours that it could have to pay a sizable settlement.

Although it claimed to have no legal notice of a class action lawsuit, it has hired attorneys to advise it. Singtel stated in a statement that 'any class action will be fiercely contested, if initiated.'

The equivalent of 40% of Australia's population was impacted by the breach, which Optus was held responsible for. The Australian government claimed that customers were at risk of financial crime and demanded that Optus take additional steps to notify those who were affected.

A individual who has not been named claimed last week that they had published the personal information of 10,000 Optus customers online.

The company stated that it is 'continuing to analyse the potential financial ramifications emerging from this incident' and that it would promptly inform the market of any significant developments.

Slater & Gordon and Maurice Blackburn, at least two significant law firms, have stated they are looking into the possibility of filing a class action lawsuit against Optus to seek compensation for anybody impacted by the incident.

On Monday, Optus announced that Deloitte had been selected to conduct an impartial, external review of the cyberattack.

Optus Chief Executive Officer Kelly Bayer (OTC:BAYRY) Rosmarin said in a statement provided by Singtel that 'although our overwhelming emphasis remains on protecting our consumers and mitigating the harm that can result from the theft of their information, we are determined to find out what went wrong.'

According to a video message posted late on Monday on the company's website, 2.1 million of the 10 million accounts that were compromised had a customer's identity document number revealed, necessitating possible document replacement for those consumers.

According to her, the corporation had notified all 10,000 of the people whose data had momentarily leaked online and was actively working with law enforcement to keep them safe.