IPH Limited Reports Cybersecurity Incident and Investigation Underway

On March 16, 2023 IPH Limited (ASX: IPH), an Australian intellectual property services group, announced that it detected unauthorised access to a section of its IT environment on March 13, 2023. The company immediately commenced work to secure its IT environment and has engaged external cybersecurity and forensic IT advisors to investigate and respond to the incident.

About IPH Limited

IPH is a globally recognised provider of intellectual property services that operates through a network of member firms. The organisation serves more than 25 countries and operates in nine IP jurisdictions. The group is composed of some of the most renowned IP firms, such as AJ Park, Griffith Hack, Pizzeys, Smart & Biggar, Spruson & Ferguson, and an online IP services provider known as Applied Marks. IPH currently employs over 1,200 professionals across Australia, Canada, China, Hong Kong SAR, Indonesia, Malaysia, New Zealand, Singapore, and Thailand.

Investigation Focus

• Based on the preliminary analysis, the Company identified that the incident is primarily limited to the document management systems (DMS) of the IPH head office and two IPH member firms in Australia, Spruson & Ferguson (Australia) and Griffith Hack, and the practice management systems (PMS) of these two member firms.
• The DMSs contain documents related to the administration of these entities and client documents and correspondence for the two IPH member firms.
• Meanwhile, the PMSs comprise IP case management information regarding the practice of the two IPH member firms.

Business Continuity Plan (BCP)

IPH has implemented its business continuity plan (BCP) and has switched to alternative procedures that are functioning satisfactorily, enabling the affected companies to continue their operations, albeit with some disturbance. The functionality of some systems has been affected, and the investigation is likely to take some time to complete.

Notification and Apology

The Australian Cyber Security Centre (ACSC) has been informed of the incident by IPH, and the company has expressed regret to its clients and the wider community for any concerns arising from the event. The company will continue to update its clients, shareholders, and key stakeholders as the investigation progresses and further facts are established.

Previous Announcements

In previous announcements, IPH Limited has consistently highlighted the importance of protecting sensitive information and maintaining high levels of cyber security. The company has recognised that cyber threats are a significant risk to its operations and has taken proactive steps to ensure the security of its IT environment.

For instance, in its 2022 Annual Report, IPH noted that it had invested in enhancing its cyber security capabilities to manage the evolving nature of cyber risks. The company also highlighted that it had established a Cyber Security Governance Framework, which included regular training and awareness programs for its staff, as well as conducting regular vulnerability assessments and penetration testing.

Furthermore, IPH has also previously outlined the potential impact of cyber security incidents on its operations and reputation, acknowledging that breaches can result in significant legal, financial, and reputational damage. The company has stated that it is committed to maintaining robust cyber security measures to protect its clients, staff, and other stakeholders.

Given its previous emphasis on cyber security, the recent incident underscores the ongoing threat and complexity of cyber risks, and the need for organisations to remain vigilant and proactive in their cyber security measures. It also highlights the importance of timely detection and response to incidents, as well as the need for effective business continuity plans to minimise disruption to operations. In conclusion,

the cybersecurity incident at IPH Limited is a serious issue, and the company is taking all necessary steps to investigate and respond to the incident. Clients and stakeholders of IPH Limited will be updated as the investigation progresses and further facts are established.

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