Australian consumer financing provider Latitude Group Holdings Ltd (LFS.AX) claimed hackers acquired roughly 8 million Australian and New Zealand driver’s license details in one of the country’s largest verified data breaches, sending its shares down.
In a “distressing development,” the cyber attacker stole 53,000 passport numbers and over 6 million customer details, largely from 2005 to 2013.
The data shows that crooks stole significantly more licenses than Latitude reported on March 16, when they snatched 103,000.
It now ranks among the country’s greatest data thefts, after Singapore Telecommunications Ltd.-owned (STEL.SI) No. 2 telecom Optus and medical insurer Medibank Private Ltd (MPL.AX), which each claimed late last year assaults affected approximately 10 million user accounts.
As part of an ongoing national cyber security policy revamps, the Australian government has raised fines for corporations who fail to secure consumer data appropriately.
“Cyber assaults are an increasing menace and will become a more normal part of our life for years to come,” said Cyber Security Minister Clare O’Neil.
She said Latitude cooperated with authorities to manage the attack’s aftermath.
As investors worried about the company’s vulnerability, latitude shares fell 2.5% in a flat market (.AXJO).
“Investors expect the worst when they hear of a data leak,” said City Index senior market analyst Matt Simpson.
Latitude stated their insurance included cyber-security.
“We are repairing platforms damaged in the assault and have established enhanced security monitoring as we return to operations in the coming days,” stated CEO Ahmed Fahour.
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