14 million records were impacted by the Latitude Financials cyberattack.
The financial services company Latitude told the Australian Securities Exchange that the March data breach was much worse than first thought.
The Australian Federal Police is looking into this malicious attack on Latitude, and we're still cooperating with them as well as the Australian Cyber Security Centre and our knowledgeable advisers on cyber security.
According to the company, since Thursday, March 16, 2023, no suspicious activity has been seen in Latitude's systems.
The forensic investigation is still ongoing, according to Latitude Financial CEO Ahmed Fahour. "We've determined that roughly 7.9 million Australian and New Zealand driver licence numbers were stolen, of which roughly 3.2 million, or 40%, were given to us in the last 10 years," the official said. Additionally, about 53,000 passport numbers were taken.
"A total of less than 100 customers had their monthly financial statements stolen, according to information we have gathered. We will compensate customers who decide to replace their stolen ID document. A further 6.1 million records, some of which date back to at least 2005, were also taken; of these, 5.7 million (94% of them) were provided before 2013 "Fahour declared.
The following identifying details, namely name, address, phone number, and date of birth, are included in these records, but not entirely. Latitude keeps insurance policies to cover risks, including cyber security risks, and we have informed our insurers about this incident.
"We sincerely apologize for what we know will be upsetting for many of our customers as a result of today's announcement. We're writing to all of our clients, former clients, and applicants whose information was compromised to explain what happened, what we're doing to fix it, and how you can help "Additionally, he said.
Fahour said "It is extremely disappointing that this incident has had such a significant impact on so many additional clients and applicants.” We sincerely apologize. To minimize the risk and disruption to impacted customers and applicants, we are committed to working closely with them. This includes paying the cost if they decide to replace their ID document. A thorough investigation of what happened is something else we are committed to.
He exhorts all of our clients to exercise caution and to be on the lookout for any activity that might be concerning to their accounts.
"We'll never get in touch with customers and ask for their passwords.” We're still working around the clock to get our operations back up and running safely. We are repairing the attack-damaged platforms as we resume operations in the coming days and have increased security monitoring in place. Customers and business partners are appreciated for their patronage and tolerance. On their Latitude credit card, customers can still make purchases." CEO of Latitude Financial, Ahmed Fahour, stated:
He stated that they keep working nonstop to safely resume our operations. We are repairing the attack-damaged platforms as we resume operations in the coming days and have increased security monitoring in place.
Monash Unviersity Professor of Practice Nigel Phair, Department of Software Systems & Cybersecurity, Faculty of Information Technology, said “Customers of Latitude Financial need to be extra vigilant and keep an eye on all accounts for any suspicious emails, text messages, or transactions. Any customers with greater concerns should contact Latitude to gain reimbursement for changing identity documents, including driver’s licence.”
He added, “ “All online consumers need to be aware of the need to guard their personal identities while operating in the online environment. This is getting harder as more and more organizations suffer data breaches, which open individuals up to greater vulnerabilities surrounding phishing and identity theft.”.
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