Iress strengthens security after a cyber incident

Iress has announced that it is strengthening its security settings after unauthorized access to its systems occurred over the weekend.

The company said it discovered unauthorized access to Iress’s user space on GitHub on May 11. GitHub is a third-party code repository platform that manages software code before it goes live. However, no customer information is stored on the platform.

In a statement, the company said: “Immediately upon discovery, Iress restricted access to GitHub and began a rapid investigation.” There is no evidence that customer data was compromised as a result of this issue. There is also no evidence that Iress’ production or client software has been compromised.

“Out of an abundance of caution, Iress has now initiated a process to strengthen access and security protocols.”

The company assured customers that it does not expect any impact to its business or customers’ ability to use Iress software and systems.

The statement was made “in the interest of transparency” to its stakeholders, it said.

“The company takes information security very seriously and has notified the relevant authorities.”

The Australian Institute of Company Directors Conference took place every two years earlier this year AICD Director Sentiment Index In the first half of 2024, we surveyed over 1,000 directors and found that more than half of financial services directors are concerned about cybercrime and data security (57 percent), compared to 43 percent of directors overall.

Additionally, 55 percent of financial services companies said the threat of a cyberattack affected their boards’ risk appetite, compared to 45 percent of overall boards.