Customers of Westpac Group who have had a property valuation through the banking organisation may have been impacted by the recent LandMark White data breach, reports reveal.
Westpac says that LandMark White operates as a third party to facilitate property valuations – an outsourcing arrangement which may have exposed the personal details of customers at Westpac, St.George, Bank of Melbourne, BankSA and RAMS.
The LandMark White data breach announced last week was initially thought to have hit around 100,000 home loan customers, prompting a 6% drop in the property valuation firm’s share price.
In an official statement to the Australian Securities Exchange (ASX), LandMark White said property valuations together with a range of personal details, including phone numbers, names, residential / business addresses and email addresses, had been exposed in the breach.
Notes on property valuations may also have been compromised, the firm said.
The price drop in shares was exacerbated by the company saying that it was “assessing the costs of the incident and the subsequent reduction in revenue,” the Sydney Morning Herald reported.
At the start of the year, LandMark White cut earnings forecasts for the first half by 25%, a downgrade that could be increased by news of the breach.
The organisation’s chairman, Keith Perret, said in January that the group had tightened security on one of its valuation platforms.
“We have engaged leading privacy, digital forensic and cyber security consultants who have confirmed that the data disclosure relates to the vulnerability which had been secured. We can confirm that the disclosed dataset does not include loan application, date of birth, or other sensitive information,” Mr Perrett said.
No figure has yet been put on the number of Westpac customers impacted, but the group believes it is limited to a “small number of individuals.”
European Data Protection Summit will take place on June 3rd in Central London and will play host to 800 DPO’s, Security Professionals and senior business decision makers looking for; information, updates, clarity, advice and solutions. For more information, visit the website.
We have been awarded the number 1 GDPR Blog in 2019 by Feedspot.