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Latitude Financial Breaches Customer Data, Coles Warns

 


In an attempt to verify if the breach of Latitude Financial data was impacting Coles, the supermarket giant has confirmed it has. As part of the report, the company alleges that a cybercriminal gang has stolen the information used to issue previous Coles credit cards. 

Within the 14 million stolen customer records, there was information regarding 7.9 million driver's licenses and about 53,000 passport numbers that were among the data stolen from the hack, which was detected last month. According to the company's report, this data breach occurred in March 2023 and was reported to the regulators. 

As a result of the breach, Latitude Financial Services has notified Coles of the issue and is in the process of reaching out to all affected clients. 

The breach compromised thousands of passport numbers, along with personal information such as driver's license numbers, names, addresses, dates of birth, and other personal information. This included thousands of driver's license numbers. 

Despite this, the supermarket giant has not yet been informed of the number of customer accounts that have been affected by this incident. 

Despite Coles' assertions, he has yet to release any further information regarding this data breach incident. A data breach reported by Latitude Financial has confirmed that historically Coles credit card owners have been affected by the breach. Several customers have been affected and a Latitude Financial spokesperson is contacting them. “In March 2018, Coles Financial Services moved its credit cards to Citibank,” a Coles spokeswoman said. 

There has been a confirmed contact between Latitude and the group behind the hack. The group sent Latitude a ransom note demanding payment. 

The company is taking a variety of measures to provide support and information to customers affected by the loss of their personal information and to inform them about what happened. 

Even though a third-party platform was likely involved in the breach, this information has not been released by Latitude, nor have the criminals revealed who they are. 

Additionally, the firm has established a contact center in Australia and New Zealand to assist individuals affected by this natural disaster. It was further assured that if any of the stolen identification documents needed to be replaced, the company would reimburse the affected customers. 

There have been multiple attempts made to contact Myer as well as Latitude Financial - both of which have branded Visa credit cards through GE Money. 

There are several major retailers, such as Harvey Norman, The Good Guys, JB HI-Fi, Apple, and Amart Furniture, that offer interest-free credit cards and personal loans through Latitude Financial, which used to be known as GE Money. This is one of the most significant data breach that ever took place in Australia. 

Latitude Financial Reveals Extent of Cyber Attack: 14 Million Customers Affected

 

Recently, Latitude Financial, a company listed on the Australian Securities Exchange (ASX), reported that it had suffered a cyber attack. The company stated that the attack was believed to have originated from a major vendor used by the company and that the attacker had obtained login credentials from an employee. The attacker then used these credentials to steal personal information that was held by two other service providers. 

Latitude Financial provides a range of financial services, including loans, credit cards, and insurance, in Australia, New Zealand, Canada, and Singapore. The company also offers interest-free installments for customers of retailers such as JB Hi-Fi, The Good Guys, and David Jones when they shop online. 

Following the attack, DXC Technology, a global technology services company, issued a statement on its website confirming that its global network and customer support networks were not compromised in the attack on Latitude Financial. 

Ten days after Latitude Financial revealed that it had suffered a cyber attack, the company discovered that the breach was much more severe than initially believed. Data from 14 million people had been accessed, rather than the 330,000 that was initially thought. 

The attacker had used the stolen employee credentials to access customer data stored by both service providers before the incident was patched. As of 27 March, Latitude Financial had identified that 7.9 million Australian and New Zealand driver license numbers were stolen, with approximately 3.2 million of them provided to the company in the last 10 years. Additionally, around 53,000 passport numbers were accessed, and fewer than 100 customers had a monthly financial statement stolen. 

The company further confirmed that 6.1 million records dating back to 2005 had been accessed, including customers' names, addresses, telephone numbers, and dates of birth. 

In response to the breach, Latitude Financial's Chief Security Officer, Ahmed Fahour, stated that the company was committed to working closely with affected customers and applicants to minimize risk and disruption, including compensating the cost of replacing ID documents. The company also urged its customers to be vigilant and report any suspicious behavior relating to their accounts and reminded them that the company would never contact them to request passwords.