On November 23, 2022, Ingalls & Snyder, LLC reported a data breach with the Vermont Attorney General after an unauthorized party was able to bypass the company’s data security system and access sensitive client information stored on the company’s computer network. According to Ingalls & Snyder, the breach resulted in the first and last names, Social Security numbers, Ingalls & Snyder account numbers, bank account numbers, dates of birth, and driver’s license photos being compromised. Recently, Ingalls & Snyder sent out data breach letters to all affected parties, informing them of the incident and what they can do to protect themselves from identity theft and other frauds.
As a client of Ingalls & Snyder, LLC, you implicitly trusted the company. However, news of the recent data breach calls the company’s commitment to consumer privacy into question. And, as a result, you now face an increased risk of identity theft and other frauds. As we’ve discussed in prior posts, companies have a legal duty to protect your information and may be held financially responsible for any harms you suffer due to a preventable data breach. While these data breach lawsuits can provide you with meaningful compensation to offset the losses you suffered as a result of the breach, they also encourage companies to be more careful with consumer information in the future.
What We Know About the Ingalls & Snyder Data Breach
The available information regarding the Ingalls & Snyder breach comes from the company’s filing with the Vermont Attorney General’s office. According to this source, on or around October 31, 2022, Ingalls & Snyder detected a network security incident that impacted part of the company’s computer network. In response, Ingalls & Snyder secured its network and then began working with outside cybersecurity specialists to investigate the incident and determine what, if any, consumer information was leaked as a result.
On November 3, 2022, the Ingalls & Snyder investigation confirmed that an unauthorized party or parties were able to access some sensitive client information stored on the company’s computer network.
Upon discovering that sensitive consumer data was made available to an unauthorized party, Ingalls & Snyder began to review the affected files to determine what information was compromised and which consumers were impacted. While the breached information varies depending on the individual, it may include your first and last name, Social Security number, Ingalls & Snyder account number, other financial account information, date of birth, and driver’s license photo.
On November 23, 2022, Ingalls & Snyder sent out data breach letters to all individuals whose information was compromised as a result of the recent data security incident.
More Information About Ingalls & Snyder, LLC
Founded in 1924, Ingalls & Snyder, LLC is a registered investment advisor and broker-dealer located in New York City, NY. The firm provides investment management and related services to private clients as well as institutional investors. Currently, Ingalls & Snyder has approximately $8 billion in assets under management. Ingalls & Snyder employs more than 69 people and generates approximately $17 million in annual revenue.
