Latitude Group Holdings Ltd., an Australian consumer loan company, will not pay a ransom to those responsible for a cyberattack that occurred last month because it will hurt clients and the general public by inciting other attacks.
Latitude stated in a statement on Tuesday that it “would not reward criminal behavior” and that it does not “think that paying a ransom will result in the return or deletion of the information that was stolen.”
In one of the worst documented data breaches in the nation last month, the corporation claimed hackers obtained roughly 8 million driver’s license numbers from Australia and New Zealand.
Harvey Norman (HVN.AX) and JB Hi-Fi (JBH.AX) shops Latitude, which offers consumer lending services, had also shut down its platforms.
According to the corporation, “regular business operations are being resumed,” adding that Latitude’s main customer contact center is now fully operational and online.
Over the past few months, a number of Australian businesses have suffered cyberattacks, which experts attribute to an understaffed cyber security sector.
The Latitude Group has also praised the Australian government for its commitment to investing in cybersecurity measures. The government has allocated significant resources to strengthen the country’s cyber defenses, including the establishment of a Cyber Security Centre and the implementation of a National Cyber Security Strategy. These measures are designed to protect the country’s critical infrastructure and data from cyberattacks.
The Latitude Group has also praised the Australian government for its commitment to educating the public about cybercrime. The government has launched a number of initiatives to raise awareness about the dangers of cybercrime and to encourage people to take steps to protect themselves from cyberattacks. These initiatives include the launch of the Stay Smart Online website, which provides information and advice on how to stay safe online, and the Cyber Security Awareness Week, which is held annually to raise awareness about cybercrime.
The Latitude Group’s support for the Australian government’s refusal to pay a ransom to cyberattackers has had a positive impact on the cybersecurity landscape in the country. This decision has sent a strong message to cybercriminals that their activities will not be tolerated and that their attempts to extort money from victims will not be successful. Furthermore, the government’s commitment to investing in cybersecurity measures and educating the public about cybercrime has helped to create a more secure online environment for all Australians.
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