Australian consumer lender Latitude Financial has received a ransom demand from the cybercriminals behind a recent attack that compromised 14 million customer records, including drivers’ licences, passports, and financial statements.
The company has firmly stated that it will not pay the ransom, aligning its stance with Australian government policies. Latitude Financial CEO Bob Belan emphasized, “Latitude will not pay a ransom to criminals. 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.”
Latitude Financial, which provides personal loans and credit services, initially disclosed the breach in mid-March. Following the incident, the company shut down systems to contain the attack and has recently begun restoring services.
“Regular business operations are being restored, with Latitude’s primary Customer Contact Centre back online and operating at full capacity,” the company stated. “We will respond to all customer inquiries as a priority. Customers can also access services via the Latitude website and mobile app. New customer originations have also recommenced.”