Ameriprise Advisor Phishing Incident Potentially Exposes Client Data
From the desk of Jim Eccleston at Eccleston Law
A phishing incident involving an Ameriprise Financial advisor potentially exposed the personal information of hundreds of clients, according to a disclosure posted by the Maine Attorney General’s office.
According to ThinkAdvisor, the Maine AG reported that the December 4 incident may have affected 598 individuals nationwide, including 52 Maine residents. The breach stemmed from a phishing email that appeared to be a legitimate client communication and prompted the advisor to unknowingly provide access to sensitive information.
In a notification letter to clients, Ameriprise stated that the advisor “was the victim of a phishing incident” after receiving an email that looked authentic. ThinkAdvisor reports that, as a result, a bad actor gained potential access to certain client data for a limited period of time.
According to the disclosure, the compromised information may have included names, addresses, phone numbers, email addresses, dates of birth, Social Security numbers, driver’s license numbers, net worth information, dependents, account numbers and values, medical data, and other personal details.
Ameriprise reported that it responded by implementing additional safeguards, including enhanced caller verification procedures and signature confirmations. According to ThinkAdvisor, the firm also stated that it is offering affected clients complimentary credit monitoring services.
The incident underscores the continuing cybersecurity risks financial advisors face and the potential regulatory and client impacts that can follow even a single successful phishing attempt.
Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.
Tags: eccleston, eccleston law, ameriprise
