Tribal Group PLC in Australia have announced that shares in the company took a tumble last week, after the education software and services supplier divulged a data breach at one of the firm’s subsidiaries.
According to Tribal Group, potential unauthorised access of around 9,300 individuals’ private data was detected at a unit held by Tribal Campus.
The information was stored by Tribal Campus in its role as student IT system provider to MEGT, an educational body in Australia.
Upon disclosure of the potential breach, Tribal Group’s shares fell 4.7% to close at 70.50 pence each in London, illustrating that the negative effects of a data breach often go beyond regulatory action.
In a statement, the company said:
“Upon discovery of the unauthorised disclosure, immediate steps were taken by Tribal to secure the data and external forensic cyber security experts were appointed to investigate the circumstances and scope of the incident.”
The group has reached out to those believed to have been impacted by the breach, offering advice on steps victims should take to protect themselves. Tribal is also collaborating with the Office of the Australian Information Commissioner as investigations into the situation continue.
Tribal Group have described the data breach as isolated, and have confirmed that any data exposed concerns the migration of data for a “single Tribal Campus customer in Australian involving a non-production system.”
“No other customers, products or regions have been affected,” the company said, before underlining how the board anticipates that the year’s full trading will take place in line with official expectations. Tribal Group has also said that it does not expect to receive a financial penalty for the breach.
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