Australia's TechnologyOne halts trading after being hit by cyber attack (updated)

TECHNOLOGY ONE

10/05/2023 24:50

(Updates with company comment, more details on illegal access,
context on cyber attacks in Australia throughout)
       May 10 (Reuters) - Australia's TechnologyOne Ltd
 TNE.AX  said on Wednesday it had detected an unauthorised
third-party access to its back-office systems, becoming the
latest target in a series of cyber attacks that has bogged
companies in the country since last year.
    "TechnologyOne's customer-facing SaaS platform is not
connected to the Microsoft 365 system, and therefore, has not
been impacted," the enterprise software maker reassured its
customers in an exchange filing.
        The software maker immediately went on a trading halt
after the announcement, and said it has isolated the affected
systems and will contact the impacted customers after an
investigation is conducted.
        Starting with the Optus breach last September, a spate
of cyber attacks on Australia's corporate sector has exposed
data from tens of millions of customers online and led the
government to set up a new cyber security body and overhaul
rules the home minister has called "bloody useless".
        Major firms such as top grocer Woolworths Ltd  WOW.AX ,
and telecoms Telstra  TLS.AX  and TPG Telecom  TPG.AX  have
reported data breaches and unauthorised access, bringing to
light corporate vulnerability to cyber attacks.


 (Reporting by Sameer Manekar in Bengaluru; Editing by Shinjini
Ganguli and Sherry Jacob-Phillips)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))