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LandMark White reinstated by major Australian lender

People & Companies / Latest News

Australia

Mar 21 2019

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LandMark White (LMW) has been reinstated by Commonwealth Bank to its panel for residential valuations, marking a significant step for the company after the recent cyber attack.

The company has been working closely with financial institutions throughout the last few weeks – including all of Australia’s major lenders – to ensure its systems and networks are now subject to the highest level of security and monitoring. It has made significant enhancements to its information security procedures, including anonymisation of private details on completed valuations.

LMW liaised with Commonwealth Bank’s Data Protect Group to assess and improve its data security environment, while the company has also committed to a framework for robust risk management and continuous improvement. 

The company will also continue to maintain an open and transparent dialogue with all of its clients’ information security leaders as it reinstates the flow of valuation requests.

Keith Perrett, Chairman of LandMark White, said the decision made by Commonwealth Bank is an endorsement of the actions taken by the company in response to the incident.

“Our focus from day one has been to work through this incident thoroughly with our corporate partners, financial institutions and affected customers, to resume business activity as quickly as possible,” Mr Perrett said.

"We’re pleased a number of financial institutions have reinstated LMW to its panel of valuation providers, including one of Australia’s major lenders. Commonwealth Bank recognised the risk to our company, our staff and shareholders, and reviewed the enhancements to our systems and networks in an efficient manner while also ensuring its affected customers were supported.” 

“It’s a great sign of faith in our company and our people, and I thank the Commonwealth Bank for the support they have shown LMW in the last few weeks. We are confident we now have one of the most secure systems and networks for a property valuation company in Australia.”

“The safety of customer data will always be of paramount concern to both LMW and Commonwealth Bank, and we are committed to working together to ensure that our company’s data privacy, security standards and internal processes meet or exceed their requirements.” 

LMW will also continue to work closely with Australia’s other major financial institutions to reinstate the company as a trusted valuation provider and resume using its services as soon as possible.

“Getting back to work is not just important for our 400-loyal staff, but also for our shareholders – many of whom are everyday families and retirees across Australia,” Mr Perrett said.

“We have been a trusted member of the industry for nearly 40 years and with the support of all the major banks, we’re confident we’ll be here for another 40 years and longer.”

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