Non-bank lender Latitude Financial says it will not pay a ransom requested by cybercriminals that hacked its systems, stealing data belonging to more than 14 million past and present customers.
that have put a spotlight on how long companies hold customer data, and how securely it is stored.
Last year, Medibank refused to pay a ransom to recover the medical records of nearly half a million Australians that were later posted to the dark web. The health insurer now faces separate legal actions from investors and customers.Latitude is working with the Australian Federal Police and Australian Cybersecurity Centre, which are investigating the incident that was first detected on March 16.
, but it confirmed in Tuesday’s statement that “regular business operations are being restored” and “new customer originations have also recommenced”. While many of Latitude’s non-bank competitors had been forced to slow customer acquisition because of higher funding costs, it had found itself comparatively well-positioned before the attack.“Our priority remains on contacting every customer whose personal information was compromised and to support them through this process,” he said.
“In parallel, our teams have been focused on safely restoring our IT systems, bringing staffing levels back to full capacity, enhancing security protections and returning to normal operations.”
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Latitude Financial says hackers have demanded a ransom but it will not payLatitude Financial will not pay a ransom to those behind a cyber attack, as the details from 14 million customer records remain at risk of being released.
Read more »
Criminals behind Latitude cyber attack issue ransom demandLatitude Financial has revealed it has been sent a ransom demand but will not pay up to the criminals who launched a cyber attack on the company.
Read more »
‘Consider what damage could be caused’: Government launches cyber ‘war games’ for major banksThe nation’s biggest banks and financial services companies will be summoned to a series of unprecedented war-gaming exercises to test how they would respond to debilitating cyberattacks.
Read more »
‘Consider what damage could be caused’: Government launches cyber ‘war games’ for major banksHome Affairs Minister Clare O’Neil says recent attacks on Optus, Medibank and Latitude Financial are just the “tip of the iceberg” for damaging cyberattacks.
Read more »
Australia’s richest captured 93% of economic growth between 2009 financial crisis and Covid, paper showsWealthiest 10% captured growth in company profits while most Australians watched their real wages shrink, Australia Institute finds
Read more »
Banks to undergo cyber war games in a bid to ensure customers' data is safeThe federal government will bring major banks and financial services companies together to practice responses to future cyber attacks.
Read more »