Australian Enterprise Software Maker TechnologyOne Resumes Trading Following Hack

Australian enterprise resource planning solutions provider TechnologyOne halted trading for a couple of days this week after detecting unauthorized access to some of its systems.

The enterprise software maker halted trading on May 10, revealing in a statement that hackers had targeted its “internal Microsoft 365 back-office system”.

Affected systems were quickly isolated and an investigation has been launched. Authorities have been notified and the company has been trying to determine the extent of the breach.

It noted that its customer-facing SaaS platform is not impacted as it’s not connected to the hacked Microsoft 365 system.

In an update shared on May 12, when it resumed trading, TechnologyOne repeated this statement, adding that the targeted systems have been restored and are fully operational. The firm has received confirmation from third-party cybersecurity experts that its Microsoft 365 system is now secure.

“Our focus remains on the investigation into the incident to determine what data may have been accessed via our internal Microsoft 365 back-office system, and then as is necessary, to engage with impacted individuals on appropriate actions,” the company stated.

“TechnologyOne maintains administrative information on its back-office system. The information held by TechnologyOne on its back-office system is separate to customer’s information and data on TechnologyOne’s SaaS platform, which is safe and secure,” it added.

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No other information has been shared on the cyberattack, but it would not be surprising if the intrusion was part of a cybercrime operation involving ransomware.

Cisco this week detailed a new phishing-as-a-service offering used by cybercriminals to target the Microsoft 365 accounts of organizations in the technology, manufacturing, real estate, and healthcare sectors, including in Australia.

TechnologyOne is not the only major Australian company targeted by malicious actors in the past year. The list also includes Latitude Financial, TPG Telecom, Medibank, and Optus.

https://www.securityweek.com/australian-enterprise-software-maker-technologyone-resumes-trading-following-hack/