Australian Finance Company Refuses Hackers' Ransom Demand

An Australian finance company has refused to pay a ransom demand from hackers who breached their computer systems. The hackers had demanded a payment of $1 million in Bitcoin in exchange for not releasing sensitive customer data.

The finance company, whose name has not been disclosed, reported the breach to the authorities and has been working with cybersecurity experts to investigate the attack and secure their systems.

The company's decision not to pay the ransom is in line with the advice of law enforcement agencies and cybersecurity experts, who warn that paying ransoms only encourages further attacks and does not guarantee the safe return of stolen data.

Instead, the company is focusing on strengthening their cybersecurity measures and ensuring that their customers' data is protected. They have also notified their customers of the breach and advised them to monitor their accounts for any suspicious activity.

This incident highlights the importance of strong cybersecurity measures for all businesses, particularly those that handle sensitive customer data. It also serves as a reminder that paying ransoms is not a viable solution to cyber attacks and can have serious consequences.

https://www.lifetechnology.com/blogs/life-technology-technology-news/australian-finance-company-refuses-hackers-ransom-demand

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