Securities America, Inc. reports data breach at third party supplier McCord LLC exposing SSNs
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On November 14, 2023, Securities America, Inc. (“SAI”) informed the Vermont Attorney General about a data breach at McCord LLC, a separate entity that registers financial professionals with SAI. Securities America, is a financial services firm under the umbrella Osaic. Based in Phoenix, Arizona, Osaic is a network of independent wealth management firms.
Suspicious activity in an advisor’s email account was detected in 2022. SAI secured the account and launched an investigation on December 29, 2022, which confirmed unauthorized access to the advisor’s email containing client information. The breach did not affect Securities America's systems but was confined to the advisor's email.
The breach allowed unauthorized access to personal consumer information, including:
- names,
- Social Security numbers,
- addresses,
- birth dates,
- driver’s license numbers,
- financial account details.
No details are available about the nature of the attack or the number of affected individiuals.
Following an investigation into this incident, SAI started issuing notification letters to the affected individuals. Data breach notification letters were dispatched by Securities America on November 14, 2023, to all impacted parties, detailing the specific information that was compromised for each individual.
