(Reuters) -IPH Ltd, an intellectual property (IP) services provider, on Thursday reported a data breach in a portion of its IT systems, becoming the latest Australian company to be targeted by hackers and sending its shares tumbling 12%.
IPH said that on Monday it detected unauthorised access to document management systems, which include administrative documents, and some client documents and correspondence, at its head office and two member firms, Spruson & Ferguson (Australia) and Griffith Hack.
Australia has experienced a raft of cyber attacks on some of its largest companies since late last year, with breaches reported by at least eight companies, including Optus, owned by Singapore Telecommunications Ltd, and health insurer Medibank Private Ltd.
Technology experts say hackers have targeted Australia just as a skills shortage leaves companies with an understaffed and overworked cybersecurity workforce ill-equipped to stop attacks.
IPH said it is working with external cybersecurity advisers to conduct a forensic investigation and that it has notified the Australian Cyber Security Centre (ACSC) of the incident.
Last month, Canberra announced plans to overhaul its cyber security rules and set up an agency to oversee government investment in the field and help coordinate responses to hacker attacks amid mounting pressure to crack down on cybercrime.
IPH shares tumbled 12% to A$7.36, in their biggest one-day fall in over three years. They were the biggest loser on Australia’s benchmark S&P/ASX 200 stock index.
(Reporting by Himanshi Akhand and Mehr Bedi in Bengaluru; Editing by Maju Samuel and Savio D’Souza)
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