Latitude Financial, an Australian buy now, pay later and finance company cyber attack.
The cyber attack appears to have originated from a major vendor used by the company, and the attacker is believed to have used a “very sophisticated social engineering technique” to breach Latitude’s systems.
The breach impacts approximately 225,000 customers, including unauthorised access to over 300,000 customer identification documents.
Latitude has warned its customers about the breach and is currently investigating the attack.
There needs to be a greater focus on, and improvements made with cyber security, says regulation and governance Professor Rob Nicholls.
“There’s some real value to criminals in getting data, it’s either for ransom or identity theft,” Professor Nicholls told Sky News Australia. “The real issue is that we don’t seem to be learning quickly enough about how to improve cyber security,” he said.
Latitude Financial fall victim to a sophisticated cyber attack.
Sky News Political Reporter Joel Philp says financial services company Latitude Financial became victims of a “sophisticated cyber-attack” in which 330,000 customer records were stolen.
Customers have reported that criminals are racking up debt and spending thousands of dollars in their name, Mr Philp told Sky News Australia.