Latitude Financial Attack Costs Company Up to AU$105 Million

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

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.

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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 ...