Latitude Financial Attack Costs Company Up to AU$105 Million

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• Choosing the Right Encryption Method to Securely Exchange Data• Cybercrime , Finance & Banking , Fraud Management & Cybercrime Latitude Financial Attack Costs Company Up to AU$105 Million Hackers Obtained Access Through a Compromised Credential ( MihirBagwe) • p A typical scene in Australia, where a non-bank financial lender had a hacking incident (Image: Shutterstock) Australian consumer lender Latitude Financial Services anticipates its spring cybersecurity incident will cost it up to AU$105 million, which includes a five-week period during which debt collection systems were severely affected by the attack.In a filing with the Australian Stock Exchange, the company estimated after-tax losses for the first half of 2023 will add up to between AU$95 million and AU$105 million.