Wealthsimple, a Canadian firm that assists users in managing money, announced a data breach. That's hackers have accessed their system and has stolen some customer information.
Have you ever received a fake email that pretends to be from your bank? This is the type of thing that can happen now.
• Alerted affected customers right away
• Cancelled suspicious logins
• Let people know about scams
They've also said they're watching their systems closer now.
• Enable two-factor login (2FA) for more safety
• Be aware of email and texts—don't click if anything seems strange
• Change your password if you're using the same password on other sites
I’ll be the first to admit, I’ve reused passwords in the past as well. However, I am reminded not to do so.
This data breach was not that bad, but shows that every company is at risk of being hacked. Even small bits of data can be risky if scammers put the pieces together improperly.
So be diligent about securing your accounts, pay attention to your digital messages, and don't take everything on faith. Ultimately, your money needs more than luck to be safe.
What happened?
The hackers stole basic information such as names, emails, and phone numbers. On the plus side, the hackers did not steal any banking information or passwords. That said stolen information can be used for scams and fake emails.Have you ever received a fake email that pretends to be from your bank? This is the type of thing that can happen now.
Why this matters
Wealthsimple is trusted with people's money and personal information. The fact that banking information was not stolen does not mean the breached information could not be used in phishing scams. With just your email, a hacker can send a fake email, that looks real, in an attempt to convince you to provide further information.How Wealthsimple responded
Wealthsimple responded rapidly. They:• Alerted affected customers right away
• Cancelled suspicious logins
• Let people know about scams
They've also said they're watching their systems closer now.
What you should do
If you're a Wealthsimple account holder, or any money apps do these things:• Enable two-factor login (2FA) for more safety
• Be aware of email and texts—don't click if anything seems strange
• Change your password if you're using the same password on other sites
I’ll be the first to admit, I’ve reused passwords in the past as well. However, I am reminded not to do so.
This data breach was not that bad, but shows that every company is at risk of being hacked. Even small bits of data can be risky if scammers put the pieces together improperly.
So be diligent about securing your accounts, pay attention to your digital messages, and don't take everything on faith. Ultimately, your money needs more than luck to be safe.
