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Data breach cost Latitude $76 million | Information Age

A cyber attack has cost Latitude Financial $76 million, with personal data of up to 14 million customers compromised. The breach resulted in the firm pausing new originations and pricing actions and disrupting collection activities for six weeks. Despite the financial setback, the company said its volumes had rebounded to pre-incident levels at the start of the financial year. Latitude continues to work with regulators and insurers to review the incident and offset losses.

Source: ia.acs.org.au –

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