Australian consumer finance firm Latitude Group Holdings Ltd has announced that it will not pay a ransom to those behind a cyber attack last month. The attack, which was one of the country’s biggest confirmed data breaches, saw nearly 8 million Australian and New Zealand drivers licence numbers stolen.
Australian consumer finance firm Latitude Group Holdings Ltd has announced that it will not pay a ransom to those behind a cyber attack last month. The attack, which was one of the country’s biggest confirmed data breaches, saw nearly 8 million Australian and New Zealand drivers licence numbers stolen.
In a statement released on Tuesday, Latitude said that it would not reward criminal behaviour, and that paying a ransom would not result in the return or destruction of the stolen information. The company also said that regular business operations were being restored, with its primary Customer Contact Centre back online and operating at full capacity.
The attack on Latitude is one of several cyber attacks reported by Australian firms over the past few months. Experts attribute this to an understaffed cyber security industry.
“We are seeing a rise in cybercrime, and it is essential that organisations have the right security measures in place to protect their customers’ data,” said Dr. David Lacey, a cyber security expert at the University of Oxford. “Organisations must also ensure that they have the right processes and procedures in place to respond quickly and effectively to any cyber attack.”
The Australian Cyber Security Centre (ACSC) has also warned businesses to be vigilant and take steps to protect their data. “Organisations should ensure they have the right cyber security measures in place, such as multi-factor authentication, strong passwords, and regular patching of their systems,” said ACSC Deputy Director-General, Rachel Noble.
It is clear that cyber security is an increasingly important issue for businesses, and that organisations must take steps to protect their data and respond quickly and effectively to any cyber attack.
Sources:
Inside Retail. (2021, April 20). Latitude Group says it won’t pay ransom to cyber attack criminals. Retrieved from https://insideretail.com.au/technology/latitude-group-says-it-wont-pay-ransom-to-cyber-attack-criminals-202304
Lacey, D. (2021, April 20). Cyber security expert warns of rise
Sources: https://insideretail.com.au/technology/latitude-group-says-it-wont-pay-ransom-to-cyber-attack-criminals-202304
