Tech »  Topic »  Latitude Financial Attack Costs Company Up to AU$105 Million

Latitude Financial Attack Costs Company Up to AU$105 Million

Hackers Obtained Access Through a Compromised Credential Mihir Bagwe (MihirBagwe) • May 26, 2023

A typical scene in Australia, where a non-bank financial lender had a hacking incident (Image: Shutterstock)

Australian consumer lender Latitude Financial Services anticipates its spring cybersecurity incident will cost it up to AU$105 million, which includes a five-week period during which debt collection systems were severely affected by the attack.

See Also: Live Webinar | Education Cybersecurity Best Practices: Devices, Ransomware, Budgets and Resources

Hackers demanded extortion from the non-bank creditor after stealing data pertaining to 14 million customers, including nearly 8 million Australian and New Zealand driver's license numbers. They obtained access through privileged credentials acquired from a third party.

Other exposed information includes financial data from nearly 1 million loan applications, such as bank account numbers and payment card numbers. Latitude said most of the payment cards were expired or closed and that hackers ...

Copyright of this story solely belongs to bankinfosecurity . To see the full text click HERE