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Latitude Financial Services, which is Australia’s largest personal loans provider and the country’s largest non-bank consumer credit lender recently suffered a data breach. In its initial disclosure, it had initially estimated 225,000 customer records were impacted. That number increased to 330,000 customer records last week and in their most recent announcement is now impacting 14 million customer records. This includes 7.9 million Australian and New Zealand driver’s license numbers, 53,000 passport numbers and financial statements. Some of the stolen documents dated back to 2005. This breach is the latest in the series of major attacks on Australian companies, following hacks at Optus and Medibank last year. This breach is raising questions about how companies are storing data and why so many businesses hold on to old customer records.

This segment was created for the It’s 5:05 podcast