AdviceOne Network Breached

  • By Steven
  • Sep 07, 2022

An unauthorized actor accessed AdviceOne's network earlier this year. The digital security breach culminated in the exposure of highly sensitive AdviceOne customer information between February 2022 and March 2022. Let's delve into the details of the attack to shed light on how hackers were able to steal the data and what might become of that valuable information. 

How did AdviceOne Respond to the Breach?

AdviceOne responded quickly, sending formal notices of the data breach to the compromised individuals. However, affected customers might become victims of identity theft due to this digital infiltration, potentially leading to financial fraud, a reduction in credit score, and plenty of frustration. The AdviceOne data breach reinforces the merit of fortifying your digital defenses at least once every six months.

Though AdviceOne certainly disappointed its customers by failing to safeguard sensitive data, the company should be credited for proactively bolstering its digital security policies, systems, and procedural nuances in the aftermath of the attack. AdviceOne even went as far as providing Experian identity monitoring services to compromised individuals.

How Many People Were Victimized in the Hack?

AdviceOne representatives publicly stated the data breach led to the exposure of valuable information about more than 7,000 people. Hackers stole full names, Social Security numbers, bank account information, dates of birth, driver's license numbers, and even login information such as usernames and passwords.

Has AdviceOne Revealed Much About how the Hack was Performed?

AdviceOne representatives have revealed limited information about the hack, highlighting how they first identified signs of digital aggression in the form of suspicious activity within the network. An unauthorized individual accessed the AdviceOne network in the year's first financial quarter. The company insists the specific information about each customer exposed to the hacker differs by individual.

Some customers' full names were exposed while others' bank account details were stolen, and so on. The company deserves commendation for contacting compromised customers with data breach letters. However, it took until the second quarter of the year for AdviceOne to notify affected customers of the data breach.

Why is the Hack Significant?

The AdviceOne hack is meaningful as the company is an emerging leader in the New England regional wealth management space. Located in Glastonbury, Connecticut, AdviceOne provides financial services and wealth management education sessions.

AdviceOne is a relatively small business, employing 30-40 individuals. The fact that hackers are willing to zero in on a business of this size instead of a mid-level corporation or larger organization exemplifies the extent of recent digital offensives. The moral of this story is that no business, individual, or other party is safe in the context of the digital warfare taking place on the web.

How Should AdviceOne Data Breach Victims Move Forward?

Victims of the AdviceOne hack are encouraged to review their credit reports at least once every couple of months. Those compromised by the breach are advised to stay vigilant, protecting against potential financial fraud and identity theft. Implement the industry's latest digital safeguards at both your home and work computers, view requests for information from the lens of an identity theft target, and proceed accordingly. 

AdviceOne customers are also encouraged to change their passwords used for company services. Above all, everyone who uses a computer at work or home will benefit from the expertise of cybersecurity professionals who keep their fingers on the pulse of the industry’s rapid evolution.

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