SecurityWeek reports that major Australian financial services firm Latitude Financial has disclosed spending nearly $50 million for a widespread ransomware attack earlier this year that has impacted almost 7.9 million individuals in Australia and New Zealand. While the total spending was lower than the initial estimate of about $70 million, Latitude Financial said in its financial report for the first six months of 2023 that different components of its business were adversely impacted by the cyberattack, which has led to the compromise of data, including contact information, account statements, and driver’s license and passport copies and numbers, as well as income and expense details.

Source: SC Magazine