On December 7, 2023, Financial Risk Mitigation, Inc. (“FRM”) filed a notice of data breach with the Attorney General of California after discovering that an unauthorized actor was able to gain access to its computer system. In this notice, FRM explains that the incident resulted in an unauthorized party being able to access consumers’ sensitive information, which includes their names and Social Security numbers. Upon completing its investigation, FRM began sending out data breach notification letters to all individuals whose information was affected by the recent data security incident.

If you receive a data breach notification from Financial Risk Mitigation, Inc., it is essential you understand what is at risk and what you can do about it. A data breach lawyer can help you learn more about how to protect yourself from becoming a victim of fraud or identity theft, as well as discuss your legal options following the Financial Risk Mitigation data breach. For more information, please see our recent piece on the topic here.

What Caused the Financial Risk Mitigation Data Breach?

The Financial Risk Mitigation data breach was only recently announced, and more information is expected in the near future. However, FRM’s filing with the Attorney General of California provides some important information on what led up to the breach. According to this source, on September 29, 2023, FRM detected unusual activity within its computer network. In response, FRM secured its systems, notified federal regulators, and then began working with third-party cybersecurity specialists to assist with its investigation.

The FRM investigation confirmed that an unauthorized party had gained access to its computer system between September 28, 2023 and September 29, 2023. FRM also learned that some of the files that were accessible to the unauthorized party contained confidential consumer information.

After learning that sensitive consumer data was accessible to an unauthorized party, Financial Risk Mitigation reviewed the compromised files to determine what information was leaked and which consumers were impacted. While the breached information varies depending on the individual, it may include your name and Social Security number.

On December 7, 2023, Financial Risk Mitigation sent out data breach letters to anyone who was affected by the recent data security incident. These letters should provide victims with a list of what information belonging to them was compromised.

More Information About Financial Risk Mitigation, Inc.

Financial Risk Mitigation, Inc. is a corporate investigative firm based out of Metairie, Louisiana. FRM helps its clients mitigate financial, regulatory, and reputational risks by developing investigative due diligence reporting programs. FRM serves a wide range of clientele, including governments, banks, pension funds, hedge funds, commercial real estate lenders and investors, and Fortune 500 companies. Financial Risk Mitigation employs more than 37 people and generates approximately $20 million in annual revenue.