Kathmandu hit by hackers

Written on the 13 March 2019 by Matt Ogg

Kathmandu hit by hackers

The personal information and payment details of Kathmandu Holdings' (ASX, NZX: KMD) online customers may be at risk after the outdoors and adventure retailer today revealed a security breach of its website platform.

The company recently became aware an unidentified third party had gained unauthorised access to the website some time between 8 and 12 February, and is "urgently" investigating the incident.

The retailer, now in business for more than 30 years, is notifying potentially affected customers directly and has urged anyone who may be impacted to contact their banks and credit card providers.

The group has also confirmed the wider IT environment including all physical stores were not impacted by the hack.

"Whilst the independent forensic investigation is ongoing, we are notifying customers and relevant authorities as soon as practicable," says CEO Xavier Simonet.

"As a company, Kathmandu takes the privacy of customer data extremely seriously and we unreservedly apologise to any customers who may have been impacted."

Since it became aware of the problem, Kathmandu has been working closely with leading external IT and cyber security consultants to fully investigate the circumstances of the incident and confirm which customers may have been affected. 

Kathmandu stated it was also in the process of notifying the relevant privacy and law enforcement agencies. The KMD share price fell by 2.12 per cent today down to $2.31.

The news follows a serious data breach that caught property valuer Landmark White (ASX: LMW) unawares in December, leading to a suspension of both trading and contracts with major clients

LMW is now coming up close to a month with its shares suspended from official quotation. 

The company is currently conducting an investigation into the data breach which saw company data sitting on the dark web for 10 days.

As an indication of how markets are responding to increased demand for warding off hacks and leaks, the Betashares Global Cybersecurity ETF (ASX: HACK) price has risen 17 per cent since the start of the year to $7.25. 

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Author: Matt Ogg

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