Oracle to pay $4.7 million for breach at Australia’s largest software company

Posted November 02, 2018 09:58:20 Oracle will pay $7.7million to settle a security breach that affected more than 5 million users of its Oracle database software.Key points:Oracle said the breach affected customers who used its software in Australia and New ZealandA spokesman said the payment was made as a result of a security investigation into…

Published by admin inMay 26, 2021
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Posted November 02, 2018 09:58:20 Oracle will pay $7.7million to settle a security breach that affected more than 5 million users of its Oracle database software.

Key points:Oracle said the breach affected customers who used its software in Australia and New ZealandA spokesman said the payment was made as a result of a security investigation into the breachThe settlement also includes an apology to customersThe payment includes an $8.5m cash payment and an apology for the breach and a commitment to continue to strengthen its security measuresOracle said it was not able to identify the victims of the breach but said the information about those who were affected was confidential.

The company said the details of the incident, which was discovered in September 2018, had been confidential and the breach was discovered after an internal audit.

The $7 million payment to Oracle is the first compensation for the security breach.

It was made after an investigation found that a software vendor had used a vulnerability in Oracle’s SQL Server database engine to attack customers’ systems.

The Australian Financial Review reported on Thursday that the breach also affected New Zealand and Australia.

Oracle said its security team had been able to discover and fix the vulnerability but said it would take several months to fully remediate it.

Oracle has a large and growing business in the US and Europe, and in March, it announced it was shutting down its US operations and rebranding it as Oracle Global Services.

It has also said it will be selling its US business, Oracle Business, and its UK operations.

Oracle Global Services is one of Oracle’s flagship products and was launched in the UK in 2012.

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