Latitude Financial, an Australian financial services company listed on the ASX, has revealed that it has experienced a major cyber attack that resulted in the theft of personal information belonging to thousands of its customers. The attack appears to have originated from a vendor used by Latitude and was described as being both sophisticated and malicious.
According to the company’s statement, the attacker was able to obtain login credentials belonging to Latitude employees before the incident was isolated. The credentials were then used to access personal information held by two other service providers, resulting in the theft of approximately 103,000 identification documents and 225,000 customer records.
The majority of the stolen identification documents were copies of drivers’ licenses, highlighting the sensitive nature of the information that was accessed. Latitude has apologized to the impacted customers and is taking immediate steps to contact them. It has also assured customers that it is doing everything in its power to contain the incident and prevent further data theft, including isolating and removing access to some customer-facing and internal systems.
The company has reported the attack to the Australian Cyber Security Centre and relevant law enforcement agencies and has engaged several cyber security specialists to assist with its response. Latitude has also committed to cooperating with authorities to investigate the attack and ensure the ongoing security of its customers, employees, and partners.
The incident is a sobering reminder of the increasing threat posed by cyber attacks, particularly for companies that rely on third-party vendors for essential services. It highlights the need for organizations to have robust security measures in place to protect against such attacks, including multi-factor authentication and continuous monitoring of networks and systems.
Latitude Financial operates a number of interest free and buy now pay later programs including Harvey Normans Interest Free program.