On October 19, 2023, Concorde Investment Partners, LLC, the parent company to Concorde Investment Services, LLC, Concorde Asset Management, LLC, and Concorde Insurance Agency, Inc. (collectively “Concorde”), filed a notice of data breach with the Attorney General of Montana after discovering that an unauthorized party was able to access an employee’s email account. In this notice, Concorde explains that the incident resulted in an unauthorized party being able to access consumers’ sensitive information. Upon completing its investigation, Concorde began sending out data breach notification letters to all individuals whose information was affected by the recent data security incident.
If you received a data breach notification from Concorde Investment Partners, LLC, 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 Concorde Investment Partners data breach. For more information, please see our recent piece on the topic here.
What Caused the Data Breach Affecting Concorde Investment Partners?
The Concorde Investment Partners data breach was only recently announced, and more information is expected in the near future. However, Concorde’s filing with the Attorney General of Montana provides some important information on what led up to the breach. According to this source, on March 2, 2023, Concorde became aware of a potential data security issue when evidence suggested that there was unauthorized access to an employee email account.
In response, Concorde secured the email account in question and then enlisted the help of third-party data security experts to assist with an investigation.
Upon the completion of Concorde’s investigation, the company was able to confirm that an unauthorized actor gained access to an employee email account between February 28, 2023 and March 2, 2023. Concorde later 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, Concorde Investment Partners reviewed the compromised files to determine what information was leaked and which consumers were impacted. Concorde completed this process on July 5, 2023. Then, Concorde began the process of identifying the addresses of all affected parties, which the company was able to complete on September 29, 2023.
On October 19, 2023, Concorde Investment Partners 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 Concorde Investment Partners, LLC
Concorde Investment Partners, LLC is a financial services company based out of Livonia, Michigan. Concorde offers its clients a range of services, including asset management, investment services and various insurance products. Concorde Investment Partners owns three related subsidiaries, Concorde Investment Services, LLC, Concorde Asset Management, LLC, and Concorde Insurance Agency, Inc. Concorde Investment Partners employs more than 33 people and generates approximately $19 million in annual revenue.