Ameriprise Financial, a Fortune 500 company, recently informed thousands of customers about a data breach caused by an ex-employee. The breach occurred when a former financial advisor shared confidential client information beyond what was necessary during a job transition. Ameriprise discovered that the former employee had shared personal details of over 4,600 customers during the period from 2018 to 2020. The company’s notification to affected clients highlighted the unauthorized sharing of personal data, which included names, addresses, emails, and phone numbers.
Although the breach primarily involved basic personal details, there is concern that more sensitive personally identifiable information (PII) may have been exposed. Ameriprise notified the Maine Attorney General about the breach, revealing that the incident took place in early 2018 but was only uncovered in January 2025. This delay in detection has raised questions about the company’s internal monitoring systems and response protocols. The breach occurred as the advisor moved from Ameriprise to LPL Financial, further complicating the matter.
In response, Ameriprise has taken several steps to mitigate future risks. The company provided impacted clients with free credit monitoring services to help safeguard their personal data. Ameriprise has also implemented additional safeguards to prevent similar breaches, such as revising protocols for employee transitions. Despite the breach being caused by a former employee, the company remains committed to ensuring that its data management practices are more secure moving forward.
Ameriprise Financial, based in Minneapolis, has been a prominent player in the financial sector since its establishment in 1894. After splitting from American Express in 2005, the company has continued to grow, with annual revenues surpassing $17 billion. Despite this breach, Ameriprise’s position in the market remains strong, and the firm has reaffirmed its commitment to protecting customer data and maintaining trust.
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