4.6 million customers affected by data breach at US retail brokerage

Synopsis

In October 2015, the retail brokerage firm said it had detected "illegal activity involving our network" from two years prior. Hackers had stolen 4.6 million customer contact details, which cybersecurity reporter Brian Krebs suggested could be to facilitate stock scams through spam campaigns.

It was revealed after the case was unsealed that four men had been charged with attacking the company and a number of other financial institutions, including JPMorgan Chase.

In November 2015, the company was fined $2.6 million by the Financial Industry Regulatory Authority (FINRA) for their failure to protect customer and employee data.

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Analyst

Courtenay Brammar

Experienced global enterprise risk and governance professional. Previously Vice President at Morgan Stanley, Deloitte Risk Advisory practitioner and PRMIA steering committee member in both London and New York.

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