Latitude Financial Stands Firm Against Ransom Demands

Refusing to pay an undisclosed ransom demand following a mid-March attack
13 April 2023
Image by Katie White from Pixabay

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


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