IPH Limited Reports Unauthorised Access to IT Infrastructure

Highlights:

• IPH Limited (ASX: IPH) has announced that it is working with external cyber security and forensic IT advisors to respond to a recent cyber incident that was detected on March 16, 2023.
• IPH has taken immediate action to isolate the compromised systems and remove them from its network.
• The company has established new network infrastructure following a strict restoration process, with key system functionality now restored.

IPH Limited (ASX: IPH), a company specialising in intellectual property, has disclosed the detection of unauthorised access to a section of its IT infrastructure on March 13, 2023. The company immediately initiated its response, and is working with leading cyber security and forensic IT advisors to conduct a forensic investigation.

Scope of the Incident

The unauthorised access to IPH's IT environment was mainly restricted to the document management systems (DMS) of IPH's head office and two IPH member firms in Australia, Spruson & Ferguson (Australia) and Griffith Hack. The incident also affected the practice management systems (PMS) of these two member firms. The DMSs store documents related to the administration of the entities, while the PMSs contain IP case management information, including filing timelines.

Response and Business Continuity

IPH activated its business continuity plan (BCP) in response to the incident. Although some systems have been impacted, the company has successfully implemented alternative processes that are functioning sufficiently to allow the affected firms to carry out their operations, albeit with some disruptions. The company immediately isolated compromised systems and removed them from its network. The organisation has implemented a new network infrastructure after undergoing a rigorous restoration process, and crucial system functionality has been successfully restored. Security has been further enhanced, including additional preventative and detective controls to protect the IPH network. The two affected IPH member firms are now using the new systems, and the process of transitioning back to normal operating procedures on these systems has begun. All other IPH member firms continue to operate as normal.

Investigation and Future Updates

IPH Limited is currently conducting an investigation to determine the scope and nature of the unauthorised access to its IT environment and data contained within. This investigation is expected to continue for several weeks, during which the company will provide updates to the market as necessary. IPH is also focused on restoring its business operations while ensuring the safety and integrity of its IT environment.

Conclusion

IPH expresses regret to its clients and the community for any distress that may result from this incident. The organisation is dedicated to safeguarding the privacy and security of its clients' data and will continue to take necessary measures to achieve this goal. IPH is taking all necessary steps to ensure the safety and integrity of its IT environment and prevent similar incidents in the future.

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