EFS Advisors reports data breach
Learn More
On May 23, 2024, EFS Advisors LLC reports a data breach following the discovery of a vulnerability in software used by one of its vendors. EFS Advisors LLC, headquartered in Cambridge, Minnesota, offers investment advisory, insurance products, retirement planning, investment management, and financial planning services.
The data breach was identified on February 22, 2024, when EFS Advisors detected suspicious activity in its computer network, indicating an unauthorized access attempt. An investigation, aided by external cybersecurity experts, revealed that the breach resulted from a zero-day vulnerability in a software program provided by an external IT vendor.
This incident allowed unauthorized access to sensitive consumer information, including
- names,
- Social Security numbers,
- financial account information,
- driver’s license numbers.
The breach has impacted current and former EFS clients and named beneficiaries of EFS clients. The number of affected individuals is not disclosed.
After concluding its investigation, EFS Advisors sent out data breach notification letters to all impacted individuals on 23rd of May 2024.
