Hackers might have the personal details of more than 14 million of Latitude Financial’s customers, but the company says it will not pay a ransom. “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,” said newly installed CEO Bob Belan. Medibank and Optus also said they’d refused demands for payment, which goes against the grain of what other companies that were victims of cyber attacks did last year. One estimate said 80% paid up to prevent the spread of stolen data or to unlock ransomware software. Yesterday, Home Affairs Minister Clare O’Neil said cyber criminals were becoming “more professionalised, industrialised, powerful and effective”, and government agencies are ‘wargaming’ cyberattack readiness with our big financial institutions.