Latitude Financial has received - and refused - a ransom demand following a cyber attack in mid-March.
In an ASX announcement, the company said it "will not pay a ransom", adding its decision "is consistent with the position of the Australian government."
The company did not disclose the size of the ransom demand.
“We will not reward criminal behaviour, nor do we believe that paying a ransom will result in the return or destruction of the information that was stolen," the company said.
Its advice from cybercrime experts is that paying a ransom will harm its own customers, and will encourage further attacks.
CyberBeat is a grassroots initiative from a team of producers and subject matter experts, driven out of frustration at the lack of media coverage, responding to an urgent need to provide a clear, concise, informative and educational approach to the growing fields of Cybersecurity and Digital Privacy.
If you have a story of interest, a comment, a concern or if you'd just like to say Hi, please contact us
We couldn't do this without the support of our sponsors and contributors.