Cyberattack response prompts Latitude chair Mike Tilley to stay on
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The news: Latitude Group chair Mike Tilley will extend his tenure to April 2025 so the credit provider can better respond to the cyberattack in March that involved the theft of the personal information of almost 8 million customers. Tilley had been due to retire from the board at the end of this year.
The numbers: The ASX-listed consumer finance company earlier this year revealed criminals obtained data via a third-party to access its network and steal information. Personal information of about 7.9 million customers, past customers and credit applicants was stolen.
Income and expense information used to assess 900,000 loan applications, including 308,000 bank account numbers and 143,000 credit card and credit card account numbers was accessed. Latitude said most of these accounts were expired.
The context: Latitude is compensating affected customers and working on a plan to regain customer trust.
Chief executive and managing director Bob Belan had only been in his role for one month when the attack was discovered. In a statement, Latitude said Tilley is extending his tenure to support Belan.
The source: Latitude Group
