LMW is pleased to advise that the NSW Police Force Cybercrime Squad has made an arrest in connection to the cyber incidents that have affected LMW throughout 2019.
We have been working closely with the NSW Police Force Cybercrime Squad since the breach to identify the person behind this incident, and we are greatly relieved that the person arrested today was not one of our employees.
Investigations have revealed that the breach was carried out by an individual external to the company with trusted inside access, and the circumstances suggest that this person deliberately targeted LMW with an intent to damage our business and reputation. We are working with the Cybercrime Squad to understand the motives for these actions.
We have made considerable investment and system enhancements this year. We are fully compliant with the International Standard ISO27001 – Information Security, and will soon be certified under ISO 27001 – Information Security Standard.
We are pleased that a number of financial institutions have reinstated LMW to their panels of valuation providers, and we continue to work with all our partners to provide them with the information they need to be satisfied our operations are secure and/or best-practice.
We have been a trusted member of the industry for nearly 40 years and we look forward to putting this incident behind us and getting back to work with all our clients and partners across Australia.