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Latitude Financials Suffers Breach

A major cyber attack on Latitude Financial, one of Australia’s largest consumer finance providers, has reportedly resulted in the potential theft of 328,000 customer IDs. The company stated that the hack occurred on March 12, 2023, and was a “sophisticated” attack. The stolen data includes names, dates of birth, addresses, and contact details, but no financial information or passwords were compromised. Latitude has advised all affected customers to monitor their accounts for suspicious activity and report any concerns immediately. The company is currently working with cybersecurity experts and law enforcement agencies to investigate the incident and prevent any further breaches.

Analyst Notes

Customers of Latitude Financial should consider taking the following steps to reduce the chance of further damage occurring as a result of the breach.

1. Monitor financial accounts: Check bank and credit card statements regularly to ensure that there are no unauthorized transactions. If any suspicious activity is noticed, it should be reported immediately.

2. Change passwords: Although Latitude has stated that no passwords were compromised in the attack, it is always a good practice to change passwords regularly, especially if the same password is used for multiple accounts. Choose strong, unique passwords that are difficult to guess and use a password manager to keep track of them.

3. Be wary of phishing scams: Scammers may try to take advantage of the situation by sending fake emails or messages claiming to be from Latitude or other financial institutions. Be cautious of any emails or messages that ask for personal information or request that a link be clicked.

4. Consider a credit freeze or fraud alert: If identity theft is a concern, consider placing a credit freeze or fraud alert on your credit report. This will make it more difficult for someone to open new accounts.

5. Stay informed: Keep an eye out for any updates from Latitude or other sources about the cyber attack and any additional steps that may be necessary in order to stay protected.