Latitude Financial Services suffered damages on its two systems

Latitude Financial Services announced a data breach incident after becoming subject to a cybercriminal operation that shut down its internal and customer-facing systems.

Latitude is one of Australia’s largest personal loan providers and the nation’s biggest non-bank consumer credit lender. This entity is a subsidiary of Deutsche Bank and KKE.

The company gives a broad spectrum of consumer financial services, such as unsecured personal loans, car loans, personal insurance, credit cards, and interest-free retail finance. It also gives big-time Australian retailers, such as David Jones, The Good Guys, Harvey Norman, and JB Hi-Fi, a “buy now, pay later” scheme.

 

Latitude Financial Services suffered a cyberattack incident that paved the way for another campaign.

 

According to investigations, Latitude Financial Services suffered a data breach incident that enabled the threat actors to steal employee credentials. Subsequently, the attackers used the credentials to log in to two of the company’s service providers to steal customer information.

Latitude stated that the actors stole over 100,000 identification documents, 97% of which were copies of driver’s licenses, from the first service provider. In addition, the hackers stole about 225,000 customer records from the second provider.

The impacted company has yet to clarify if the records from the second provider include similar documents as the first provider. Therefore, there is a possibility that the second provider could have contained a more significant set of data that could impact numerous individuals.

The customers cannot act to protect themselves since the attack has yet to reveal its true nature. Thus, cybersecurity experts advise everyone to remain wary since hackers could use the stolen data for phishing attacks or social engineering campaigns.

Latitude Financial Services has isolated several internal and customer-facing systems while addressing the incident. The company also assured everyone that they were putting their total effort into containing the attack and preventing the actors from reaching further locations in their systems.