International online broker Pepperstone has provided its customers with an important update regarding the recent data breach that impacted the company, as well as details on how the breach happened and what information was compromised. As indicated by our colleagues at Finance Feeds, the broker’s handling of the situation sets a standard for how large and renowned FX companies should handle such situations.
As we previously reported, Pepperstone experienced a data breach on 20 July which impacted some customer details and information and led to unknown 3rd party individuals calling Pepperstone customers directly in order to entice fraudulent transfers and withdrawals of funds.
In its notice to customers, Pepperstone said the security issue originated from one of its 3rd party vendors after cybercriminals used malware to compromise its computers and obtained access to the provider’s credentials. The intruders then used those credentials to gain some access to Pepperstone’s internal client relationship management system (CRM). The broker has assured customers that only the name, contact details including address, date of birth, and security questions and answers were compromised and at no point were logins, passwords of bank information ever exposed.