Fidelity Investments reports data breaches affecting more than 77,000 clients

Fidelity Investments, one of the world’s leading asset managers, has reported that a data breach in August affected the personal information of more than 77,000 clients.

The breach, which occurred between August 17 and 19, 2024, allowed an unauthorized third party to access two customer accounts.

No evidence of data misuse yet

Compromised confidential information disclosed during the incident included customers’ full names, Social Security numbers, driver’s license numbers and other personal information, according to a filing with the Maine Attorney General’s Office.

In a letter to its customers notifying them of the breach, Fidelity assured individuals that while the team is not aware of any misuse of personal information acquired during the event, they are taking proactive steps to protect the financial well-being of your client

Fidelity said the breach was discovered on August 19, after which the asset manager quickly canceled the unauthorized access and launched an investigation. They have also enlisted the help of external security experts to assess the situation.

The information accessed by the unauthorized third party involves a small subset of customers. The popular issuer of crypto-exchange-traded funds (ETFs) maintained that this incident did not involve any access to customers’ actual Fidelity accounts.

“We recently completed our review of the affected information and determined that the following personal information related to you was among the recovered information. We take this incident and the security of your information very seriously. Upon detecting this activity, we took quickly the measures to end the activity and solve this incident”.

Fidelity offers free credit monitoring after default

As a precaution, Fidelity has arranged for affected customers to enroll in a free credit monitoring and identity restoration service for 24 months.

This service, provided by TransUnion Interactive, a subsidiary of TransUnion, one of the top three credit reporting agencies, allows customers to closely monitor their credit reports and spot any unusual activity that could affect their financial situation.

Fidelity’s official website states that the firm has $14.1 trillion in assets under administration and $5.5 trillion in assets under management. The asset manager has a team of over 75,000 associates located in 11 countries across North America, Europe, Asia and Australia.

In August, CryptoPotato reported that Fidelity’s digital asset management division was also exploring stablecoins and tokenized treasury products.

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