Fidelity Investments Reveals Massive Data Breach Impacting Over 77,000 Individuals: Urgent Action Needed

A Major Breach at Fidelity Investments

Imagine you’re one of the 77,000 customers of Fidelity Investments, a Boston-based multinational financial services company, who just found out that their personal information had been exposed. This was the unfortunate reality for many after Fidelity disclosed that its systems were breached in August.

As one of the largest asset managers globally, with $14.1 trillion in assets under administration and $5.5 trillion under management, Fidelity employs over 75,000 associates across 11 countries in North America, Europe, Asia, and Australia. With such a massive operation, this breach is undoubtedly a significant concern for both the company and its customers.

The Details of the Breach

In a filing with the Office of Maine’s Attorney General, Fidelity revealed that an unknown attacker stole data between August 17 and 19 using “two customer accounts that they had recently established.” The company detected the activity on August 19 and immediately took steps to terminate the access, launching an investigation with assistance from external security experts.

In data breach notifications sent to affected individuals, Fidelity said, “The information obtained by the third party related to a small subset of our customers. Please note that this incident did not involve any access to your Fidelity account(s).” However, the company has yet to reveal what personal information was stolen in the data breach besides names and other personal identifiers.

When we asked how the attacker could access the data of thousands of customers using two accounts they previously created, Fidelity’s head of external corporate comms, Michael Aalto, said they couldn’t share that information. However, he added that “they did not view accounts. They viewed customer information.”

What’s Being Done to Protect Customers?

Even though Fidelity says there is no evidence that the stolen customer data has been misused, the company is providing affected customers with two years of free TransUnion credit monitoring and identity restoration services.

Fidelity also advised customers to “remain vigilant for fraudulent activity or identity theft by regularly reviewing your statements for your financial and other accounts, monitoring your credit reports, and promptly reporting any suspicious activity to your financial institution (if applicable), local law enforcement, or your appropriate state authority.”

A Call to Take Cybersecurity Seriously

This incident serves as a powerful reminder of the importance of cybersecurity for both individuals and companies. As technology continues to evolve, so do the threats we face. It’s crucial to stay informed about potential risks and take the necessary steps to protect ourselves and our sensitive information.

That’s why we’re here to help. Our IT Services team is dedicated to providing you with the latest cybersecurity information and guidance. Don’t hesitate to contact us if you have any questions or concerns, and remember to keep coming back to learn more about how to stay safe in our digital world.