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Cyber attack to cost intellectual property services firm millions

Posted On: Apr. 18, 2023 9:51 AM CST

A cyber attack on Australia-based intellectual property legal group IPH Ltd. and two of its member firms in March is expected cost $2 million Australian ($1.34 million) to AUD2.5 million, Business News Australia reported. The attack also caused a disruption, which contributed to a service charge budget shortfall of approximately $4.4 million for the affected businesses of Spruson & Ferguson Pty Ltd. and GH PTM Pty Ltd.