Fidelity Data Breach Impacts More Than 28,000 Customers (2024)

FAQs

Fidelity Data Breach Impacts More Than 28,000 Customers? ›

Fidelity Investments Life Insurance Co. informed more than 28,000 customers earlier this month that it suffered an October 2023 Fidelity data breach that compromised personal information held by a third-party services provider.

Fidelity Data Breach Impacts More Than 28,000 Customers.

Perhaps the biggest long-term consequence of a cybersecurity data breach is the loss of customer trust. Your customers share their sensitive information with businesses like yours assuming you have the proper security measures in place to protect their data.

As part of our ongoing commitment to our customers, we're proud to offer our Customer Protection Guarantee: We will reimburse your Fidelity account for any losses due to unauthorized activity.

We're committed to your security

We safeguard your accounts with strong encryption, firewalls, secure email, and proactive 24/7 system surveillance.

If a brokerage fails, another financial firm may agree to buy the firm's assets and accounts will be transferred to the new custodian with little interruption. The government also provides insurance, known as SIPC coverage, on up to $500,000 of securities or $250,000 of cash held at a brokerage firm.

In accordance with SEC Rule 15c3–3, often known as the Customer Protection Rule, Fidelity protects client securities that are fully paid for by segregating them and ensuring that they are not used for any other purpose, such as for corporate investment purposes, loans to investors or institutions, or for spending.

If you're notified that your personal information was exposed in a data breach, act immediately to change your passwords, add a security alert to your credit reports and consider placing a security freeze on your credit reports.

Breach impacts

Data breaches hurt both individuals and organizations by compromising sensitive information. For the individual who is a victim of stolen data, this can often lead to headaches: changing passwords frequently, enacting credit freezes or identity monitoring, and so on.

How much money is safe in Fidelity account? ›

What is FDIC insurance? The Federal Deposit Insurance Corporation (FDIC) is a U.S. government agency that insures cash deposits at FDIC member banks, generally up to $250,000 per account.

Protecting your assets

With our Customer Protection Guarantee, we reimburse you for losses from unauthorized activity in your accounts. We also participate in asset protection programs such as FDIC and SIPC to help provide the best service possible.

No matter where you visit us, we always verify your identity before allowing access to your accounts. Employees only see your data on a "need-to-know" basis, and we monitor all transactions for suspicious or unusual behavior. For your health safety, we also offer contactless verification options.

Yes. Fidelity Bank is safe, sound and well-capitalized. We are and have been a safe haven since 1909, surviving the Great Depression, the Savings and Loan crisis, the Great Recession, and World Wars, and our balance sheet is built so that we can be here for at least another 100 years. Is Fidelity Bank FDIC insured?

Is Fidelity a safe company to invest with? Yes, Fidelity is one of the safest brokerages to invest with. It's an industry leader with a stellar reputation and fully regulated in the U.S. with the SEC and FINRA, is trusted by over 43 million people and holds over $11.5 trillion in assets under administration.

Fidelity National Financial says hackers stole data on 1.3 million customers. Real estate services giant Fidelity National Financial has confirmed hackers stole data on 1.3 million of its customers during a November cyberattack that knocked the company offline for a week.

No matter where you visit us, we always verify your identity before allowing access to your accounts. Employees only see your data on a "need-to-know" basis, and we monitor all transactions for suspicious or unusual behavior. For your health safety, we also offer contactless verification options.

Big Four title firm Fidelity National Financial and its subsidiary mortgage subservicer Loancare are facing a class action lawsuit alleging that they were negligent with customer data and that they breached their contract, after the firm was the victim of a cyber security attack in late-November.

User reports indicate no current problems at Fidelity

Fidelity offers investment services including mutual funds and index trackers (ETFs).

About this app

Secure: Fidelity is committed to your security with 2-factor authentication, voice biometrics, security text alerts, and money transfer lockdowns. Easy: Get started with no account fees or minimums when you open a retail brokerage account.