Water for Commerce Fund Management, LLC has informed clients about a phishing incident that may have exposed personal information. On October 12, 2023, the firm detected a data security issue involving a targeted phishing email sent to several employees. Despite taking immediate action to stop the attack and engaging third-party experts for a comprehensive investigation, it was confirmed that unauthorized access was gained to three employee email accounts.
The compromised email accounts potentially contained personal information such as names, Social Security numbers, driver’s licenses, and bank account details. Although the investigation has not revealed any misuse of this information, the firm has decided to notify affected individuals out of an abundance of caution. They are currently unaware of any evidence suggesting that the compromised data has been misused.
In response to the breach, Water for Commerce has implemented additional security measures to enhance their network defenses. This includes updating technical safeguards, improving administrative protocols, and providing further cybersecurity training for their staff. They are also conducting a detailed review of the affected email accounts to identify the specific individuals impacted.
To support clients, Water for Commerce is offering 24 months of identity theft protection services through IDX, which includes credit and CyberScan monitoring, a $1,000,000 insurance reimbursement policy, and fully managed identity theft recovery services. This proactive step aims to help clients manage and mitigate any potential risks associated with the incident.
Reference:
