LandMark White shares fall 10 percent after dark web data revelation

LandMark White shares fall 10 percent after dark web data revelation
LandMark White shares fall 10 percent after dark web data revelation

The shares in the property valuation firm Landmark White fell 10 percent to 38 cents after it resumed trading after a major data breach.

It was trading at 45 cents prior to its initial advisory of a privacy breach.

Last week Landmark White advised its investigations revealed that an unknown third party posted an illegally downloaded valuation dataset on a dark web forum for 10 days in late January 2019.

It sought the suspension of its ASX-listed shares after some of the big four banks indicated they had stopped using LMW valuations.

"We anticipate that the suspensions will be progressively lifted over the coming days and that workflows will return to more normal levels by the end of the month," it told shareholders today.

"An unknown criminal has maliciously accessed a LandMark White’s system," it advised.

"LMW has been working with independent cyber security consultants, along with the Australian Cyber Security Centre and the Office of the Australian Information Commissioner, to ensure client information and LMW’s network is secure.

"Having assessed the severity of the incident and confirming that the personal information disclosed is relatively benign, the breach was isolated and has been closed. LMW continues to work with the affected corporate partners to lift suspensions, recover work flows and return to business as usual. LMW has not obtained any evidence that the data has been misused."


Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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