BUSINESS

Fidelity Confirms Data Breach Exposing 77,000 Customer Records

Fidelity,One of the world’s largest asset management firms announced that hackers, in a breach of data affecting the personal details of 77,000 customers, created fake customer accounts to access such sensitive information and at one point, between August 17-19, 2024.

It mostly consists of names, Social Security numbers, driver’s licenses, and financial data, but Fidelity has confirmed that no one accessed any of its customers’ accounts or withdrew their money. The hacking incident was identified on August 19 by the company, following which it immediately severed access and closed up the system.

In response, Fidelity is offering two years of complimentary credit monitoring and identity restoration services to affected individuals. The company is also urging its customers to remain vigilant and monitor their financial statements and credit reports for fraudulent activities.

The breach marks the second major security incident that has seen Fidelity under siege this year and follows a larger cybersecurity threat to this financial services sector. While regulators are pushing forward with tighter cybersecurity protocols, Fidelity’s latest breach highlights this call for wider, more robust protection against the threat.

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