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AAP
AAP
Business
Derek Rose

Latitude dividend unlikely following costly data breach

Hackers used credentials from a third-party vendor to target Latitude, stealing the data of millions (Dave Hunt/AAP PHOTOS) (AAP)

Latitude Financial shares have dropped to a seven-week low after the consumer lender detailed the extent to which its operations and earnings had been hurt by a March cyber attack.

Latitude said on Friday it had stopped processing new accounts and collections for five weeks following the hack, a business disruption it expects will cost it $7 million.

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