Fidelity Investments, one of the largest asset managers, has confirmed a data breach affecting 77,000 clients. Clients' personal information was compromised during an attack in August.
The US financial services company said in a filing with the Maine attorney general that an unauthorized user accessed information on its systems between August 17 and 19 "using two recently created."
See also: Internet Archive: Data breach affects 31 million users
"We detected this activity on August 19th and immediately took steps to terminate access," Fidelity said in a letter sent to those affected, adding that the data breach did not affect customers' Fidelity accounts.
Fidelity confirmed that a total of 77,099 customers were affected by the breach. It is still unclear how the breach of two customer accounts allowed access to the data of thousands of other customers.
The company has not yet said what types of personal data were compromised.
See also: MoneyGram: Cyberattack led to data breach
As technology continues to advance and play a critical role in our daily lives, the risk of cyberattacks will only continue to increase. It is imperative for companies like Fidelity Investments to stay ahead of evolving threats and strengthen their cyber strategies. In doing so, they will protect themselves and their clients, while also helping to create a safer digital landscape for everyone. In turn, this will strengthen consumer confidence in the financial sector as a whole, promoting stability and growth in the market.
See also: Data breach at Universal Music Group
Cybersecurity should be a top priority for all businesses, and measures should be taken such as implementing strong data encryption protocols, regularly updating software and systems, and providing comprehensive training for employees. By taking a proactive approach to cybersecurity, businesses can prevent potential breaches or minimize the impact should one occur.
Source: techcrunch.com
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