Latitude Financial Refuses Hackers' Ransom Demand in the Wake of Massive Data Breach

Latitude Financial has launched a assertion announcing they is per chance no longer paying the ransom seek records from from the threat actors that infiltrated their network on 16 March 2023.

In step with the release, “Latitude will no longer pay a ransom. This resolution is in step with the region of the Australian Government.

We won’t reward prison behavior, nor attain we judge that paying a ransom will lead to the return or destruction of the stolen records.

“In step with advice from cybercrime specialists, Latitude strongly believes that paying a ransom would per chance be detrimental to our customers and cause damage to the broader community by encouraging additional prison assaults.”

Extra statements additionally indicated that they’re working with the Australian Cyber Security Center and cyber-security specialists to review the area additional.

As per the reports on 27 March 2023, the stolen records accounts for roughly 7.9 million License numbers of Australian and New Zealand drivers, of which almost 40% (3.2 million) of them belonged to the records that the firm bought within the final ten years.

As well, Fifty three,000 passport numbers, 100 customers’ financial statements, and 6.1 million records from 2005 had been stolen.

94% of the records had been bought sooner than 2013. These records own deepest records like title, take care of, date of start, and cell phone.

Latitude has additionally created a remediation program to boost people tormented by this.

Managing Director and CEO Government Long-established Supervisor, Money Bob Selan, mentioned, “Our precedence remains on contacting each and every customer whose deepest records used to be compromised and to boost them thru this project.”

“In parallel, our groups had been enraged by safely restoring our IT systems, returning staffing ranges to total skill, bettering security protections, and returning to fashioned operations.”

“I remark regret for my share and sincerely for the damage that this cyber-attack has precipitated, and I’m hoping we are in a position to gather our customers’ self belief in time.”

Latitude additionally acknowledged that there had been no suspicious actions with Latitude Systems after the 16th March 2023 attack.

Long-established enterprise operation has additionally been restored, and the buyer contact heart is fully wait on on-line, working at total skill.

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