Lender says ‘no guarantee’ that paying ransom would result in destruction of data and doing so ‘would only encourage further extortion attempts’
“Based on the evidence and advice, there is simply no guarantee that doing so would result in any customer data being destroyed and it would only encourage further extortion attempts on Australian and New Zealand businesses in the future.
Many of the documents are viewed by cybersecurity experts as particularly sensitive, because they contain unique identifiers that can be used in conjunction with general information readily available about a person to potentially steal an identity. The Latitude breach also raises questions about how companies store data and why many businesses retain copies of documents beyond the seven-year timeframe required for certain records. The attack is the latest in a series of major data breaches, following hacks at Optus and Medibank, among others.
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