LandMark White see Westpac return after dark web data privacy breach

LandMark White see Westpac return after dark web data privacy breach
LandMark White see Westpac return after dark web data privacy breach

Following the recent reinstatement of Commonwealth Bank, LandMark White has now secured Westpac as resuming its valuation workflow.

LMW told its shareholders that still requires reinstatement from a majority of our remaining banking clients before LMW can provide reasonable financial projections.

It remains suspended from the ASX.

It was February 19 when Westpac Group moved to protect the personal information and privacy of its borrowers after the recent data breach involving LandMark White Limited.

"We are investigating this matter and it is our immediate priority to contact and support any Westpac, St.George, Bank of Melbourne, BankSA or RAMS customers who may be affected," it advised.

Westpac believed only a small number of individuals are potentially impacted.

The data disclosed includes property valuation details and some contact details (such as names, addresses and email addresses) of the various parties involved in the property valuation process.

No loan application details, such as financial and identification documents, were disclosed.

LMW also told its shareholders today that an advertisement in today’s Australian Financial Review seeking Expressions of Interest for a “Property Services Business” did not relate to LMW.

Last month LandMark White was reinstated by Commonwealth Bank to its panel for residential valuations.

Marking a significant step for the company after the recent cyber-attack, Keith Perrett, Chairman of LandMark White, said the decision made by Commonwealth Bank is an endorsement of the actions taken by the company in response to the incident.

"We’re pleased a number of financial institutions have reinstated LMW to its panel of valuation providers, including one of Australia’s major lenders.

"Commonwealth Bank recognised the risk to our company, our staff and shareholders, and reviewed the enhancements to our systems and networks in an efficient manner while also ensuring its affected customers were supported,” Mr Perrett said.

The company has been working closely with financial institutions throughout the last few weeks – including all of Australia’s major lenders – to ensure its systems and networks are now subject to the highest level of security and monitoring.

Commonwealth Bank, as well as NAB and ANZ, dropped LandMark White following the attack.

LMW liaised with Commonwealth Bank’s Data Protect Group to assess and improve its datasecurity environment, while the company has also committed to a framework for robust risk management and continuous improvement.

"We’re pleased a number of financial institutions have reinstated LMW to its panel of valuation providers, including one of Australia’s major lenders. 

“It’s a great sign of faith in our company and our people, and I thank the Commonwealth Bank for the support they have shown LMW in the last few weeks. We are confident we now have one of the most secure systems and networks for a property valuation company in Australia.”

“We have been a trusted member of the industry for nearly 40 years and with the support ofall the major banks, we’re confident we’ll be here for another 40 years and longer.”

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