If it is not yet apparent, cybersecurity is the biggest risk facing independent RIAs.
When the fraud protector becomes the weakest link, it is time to take notice.
From mid-May through July 2017, the personal information of approximately 143 million consumers was exposed during a long running data breach at Equifax (one of the nation’s three major credit reporting agencies).
The personal information that was accessed during the breach included:
In response to the breach, Equifax published a press release late on Thursday (9/7) announcing the breach and the availability of resources on the Equifax website, www.equifaxsecurity2017.com to protect individuals from identity theft. The site will verify who has been affected by this breach. If an individual’s information was exposed, they can receive a year of free credit monitoring and other identity theft protection services. Once they enter their name, the site will give them a date when they can come back to enroll. Affected individuals must remember to write down the date and come back to the site and click “Enroll” on that date. The deadline to enroll is November 21, 2017 .
Related: SEC Risk Alert: Cybersecurity