In May 2023, the Charlotte, North Carolina-based retirement plan services company Retirement Clearinghouse disclosed in a regulatory filing that in March of this year, it identified “suspicious activity” in an email account it maintained.
Upon investigation, the company discovered that an unauthorized party may have had access to retirement account information contained in that account.
Approximately 10,509 individuals may have had their names, IRA numbers for accounts held at Matrix Trust Company, and Social Security numbers exposed during the breach. Retirement Clearinghouse sent notices of the breach to those individuals affected by it in late April and early May of this year.
Breach Victims Face Risks But Have Rights
In the notices sent to affected individuals, Retirement Clearinghouse acknowledged that the information potentially disclosed could put them at risk for identity theft and fraud.
Hackers seek to penetrate data systems at financial services companies like Retirement Clearinghouse because those systems often contain a wealth of data that identity thieves can use to defraud banks, credit card issuers, retail businesses, government programs, and others.
Victims of identity theft often suffer profound damage to their finances, credit scores, and reputations that can interfere with their ability to rent an apartment, get a job, or be approved for a loan, and make them subject to collections efforts for debt fraudsters incurred in their names.
It can take years for the full scope of the harm done by a data breach of this nature to materialize, and years more to remedy the damage done.
But that does not mean that victims of the Retirement Clearinghouse data breach have no way to protect themselves.
If Retirement Clearinghouse notified you that the email account breach may have exposed your personal information, or if you have reason to think your data may have been compromised because you or your retirement plan administrator used Retirement Clearinghouse’s services, you may have significant legal rights to hold the parties responsible accountable and receive material compensation.
Our firm routinely represents data breach victims like you. We know how to investigate the scope of information about you that the breach exposed, and the legal steps to take to protect your online and offline interests from further damage.
Contact a Retirement Clearinghouse Data Breach Lawyer at Jacoby & Meyers, LLP, Today
The Retirement Clearinghouse data breach potentially exposed sensitive financial information about more than 10,000 people to internet thieves. If you’re one of those victims, the law entitles you to take action to address the actual and potential losses you’ve suffered.
Don’t wait to learn about your rights. Contact an experienced data breach attorney at Jacoby & Meyers, LLP, or call us at (212) 445-7000, for a free case evaluation.