The company Zacks Investment Research (Zacks) was infiltrated by hackers last year, allowing them access to 820,000 clients’ sensitive and personal data. The 1978-founded business uses cutting-edge financial data analytics systems to assist stock buyers.
A threat actor entered the network between November 2021 and August 2022, according to an internal examination of the incident. Although it is unknown if any data was stolen, the breach exposed user passwords for the Zacks.com website as well as full names, addresses, phone numbers, and email addresses.
Zacks learned that some client details had been accessed without permission at the end of the previous year. Such information might have enabled unauthorized users to access Zacks accounts and, by implication, any other information kept on them. Such information would be lucrative in the hands of phishing actors and scammers.
Breach Affects Zacks Elite Product Clients
The data set looks to belong to a particular group of clients. The corporation makes it clear that the incident only affected users of the Zacks Elite product who signed up between November 1999 and February 2005 in the data breach letter sent to those who were affected.
Additionally, the investment research company claims there is no proof that the security incident exposed financial data.
“We have no reason to believe any consumer financial information, including credit card information, or any other personally identifiable information about customers was accessed.” – Zacks notification of a data breach.
Zacks has started the process of resetting passwords for affected accounts after becoming aware of the hack, requiring customers to select new passwords when logging in the next time.
Users who were affected by this security problem are urged to be watchful for any unexpected calls or emails because scammers can now utilize their phone numbers and email addresses.
Security Measures By Zacks
According to the company, additional security measures have been added to the network. It is currently developing and installing new security systems with the help of an outside cybersecurity expert.
Zacks says security measures have been put in place to prevent people affected from accessing their accounts using the stolen password. Victims will see a screen demanding they generate a new password when checking their accounts.
The business stated that it is still looking into the event and putting additional safeguards in place to ensure the security of its systems.
The 820,000 victims of the breach will not receive any credit monitoring services, but they are asked to keep an eye on their bank accounts for any unauthorized charges.
Zacks further advised individuals impacted to update any other websites where they use the same password that has been exposed.
Those who use SMS-based two-factor authentication (two-factor authentication) to secure online investment accounts should change their phone number or use the 2FA technique because the disclosed data can be used by SIM swappers to port the numbers to clone cards and access the secured accounts.
What Zacks Investment Research Is All About
An American business called Zacks Investment Research is committed to creating content about investing and independent research. Len Zacks founded it in 1978 as a result of the insights he gained while obtaining his Ph.D. at MIT.
Zacks offers users a variety of investment information, such as earnings forecasts and ratings, to aid with stock market transactions. In order to help professional investors make better investment decisions for their own accounts as well as client accounts, the company offers financial data and analysis. For its wide range of consensus earnings-per-share (EPS) projections, Zacks is arguably best recognized.
The business has subsequently expanded into several relevant fields, offering research reports, recommendation summaries on numerous companies, stock prices, funds, charts, and tables, among a variety of other investment tools and information.
The business is well-known for its stock rankings, or “Zacks Ranks,” which range from one to five. A #1 ranking denotes a “Strong Buy.” The business has added ratings for mutual funds and exchange-traded funds (ETFs) in addition to “Zacks Ranks” for stock prices.
Conclusion
Zacks Investment Research, a leading provider of stock market data, has discovered a breach that lasted nearly a year and is now notifying 820,000 individuals. The business disclosed that it experienced a breach that lasted from November 2021 to August 2022 in documents filed with the Maine Attorney General’s office. Requests for comment regarding the length of the breach and the delay in notifying victims were not answered by the company. Private information like names, addresses, phone numbers, email addresses, and passwords used for Zacks.com was compromised.
