$1.50 a crime: Latitude's loyalty program with the regulator

Michael West Media · Kim Wingerei · Wednesday 15 April 2026

$1.50 a crime: Latitude's loyalty program with the regulator

Latitude Financial broke the law 2.7 million times and copped a $3.98 million fine — working out to $1.50 per breach, a penalty so small it functions as a cost of doing business rather than a deterrent.

Two point seven million breaches and a fine of a dollar fifty each — that's not a regulatory action, that's a loyalty program. ASIC's handed Latitude the kind of penalty you'd cop for returning a library book late. The whole enforcement regime has the deterrent power of a speed camera with no film in it. Somewhere in Latitude's compliance department, someone's already budgeted for the next round.

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