Skip to content

Australian Finance Company Refuses Hackers’ Ransom Demand “Finding Ways to Reduce Stress” “Exploring Strategies to Manage Stress”

Australian firm Latitude Financial has refused to pay a ransom to the hackers who stole millions of records in one of the country’s biggest data heists. Last month, it was revealed that the hackers had stolen the personal records of around 14 million Australian and New Zealand customers. The stolen data includes 7.9 million driving licenses and 53,000 passport numbers, as well as 6.1 million records with information such as names, addresses, telephone numbers, and dates of birth.

Latitude Financial said that it was ignoring the ransom threat from the group behind the cyber attack, in line with government advice. This is because paying the ransom would only encourage further extortion attempts and would not guarantee the return or destruction of the stolen information. Home Affairs Minister Clare O’Neil agreed, noting that giving in to extortion “only fuels the ransomware business model”.

In recent months, Australian companies have been the targets of multiple data breaches. In November, Russian hackers attempted a failed extortion attempt at Medibank, accessing millions of medical records. Similarly, in September, the personal details of up to 9.8 million people were accessed in a breach at Optus.

The successful data heist at Latitude Financial is a reminder that companies, as well as individuals, need to remain vigilant with their online security. It is important to ensure that data is stored securely and that security measures are regularly updated. Companies should also have protocols in place to ensure that they can respond quickly and effectively to any cyber security threats.

In summary, Latitude Financial has refused to pay a ransom to the hackers who stole millions of records in one of Australia’s biggest data heists. The stolen data included 7.9 million driving licenses and 53,000 passport numbers, as well as 6.1 million records with personal information. Paying the ransom would only encourage further extortion attempts and was not a guarantee of the return or destruction of the stolen information. Companies should be extra vigilant with online security and have protocols in place to respond to any cyber threats.

Leave a Reply

Your email address will not be published. Required fields are marked *

nv-author-image