The Australian Property Institute (API) welcomes news of an arrest this week by NSW Police in relation to the theft of data from listed property valuation and consultancy company, Landmark White (LMW).

LMW first became a victim of cybercrime earlier this year, announcing on 5 February 2019, that a dataset containing property valuation and some personal contact information had been disclosed. This was followed by another announcement on 30 May 2019 of a Document Disclosure – Secondary Incident.

API CEO, Amelia Hodge said the arrest is good news for the hundreds of affected LMW valuers, staff and families. “Cybercrime is exactly that, a crime. The effect of this crime has profoundly impacted LMW and its people. We have been working closely with their CEO and Board to support those many families that have been impacted by this heinous crime and will continue to do so.”

Ms Hodge said that although the Australian valuation profession exists within a robust ecosystem of property and banking sectors and must comply with the most rigorous national and international (in some cases) data security regulatory obligations, this data theft incident is a stark reminder that no business is immune and companies must remain hyper-vigilant around such risks.

“While it is not possible for enterprises to completely remove cybercrime risk, it is possible to prepare for the possibility, mitigate the consequences, contain and remediate any damage following an attack and, in the interests of all, be able to return to business-as-usual as soon as the risk is satisfactorily resolved.”

About the Australian Property Institute (API)

The Australian Property Institute (API) is the leading and contemporary membership organisation for property professionals. API sets and maintains the highest standards of professional practice, education, ethics and professional conduct for its members. In turn the work of API raises the bar for the entire property profession and advocates on a range of member issues with a range of stakeholders. API is committed to building and maintaining a strong base for the future of the property profession through broadening the expertise and knowledge of membership. As a result, API’s impartial, objective and independent advice is sought after by a broad range of organisations including all levels of Government.