The Canadian Investment Regulatory Organization (CIRO) has confirmed that a data breach identified last year impacted approximately 750,000 investors across Canada. Although the incident was publicly disclosed on August 18, CIRO completed an extensive forensic investigation on January 14, which provided a clearer understanding of the breach’s scope and affected individuals. CIRO is Canada’s national self-regulatory body responsible for overseeing investment dealers, mutual fund dealers, and trading activities. Formed in 2023, the organization plays a critical role in maintaining the integrity of the country’s financial markets. According to CIRO, a cybersecurity threat was detected on its systems on August 11, prompting the organization to shut down certain non-critical systems and initiate a detailed investigation. Initial findings indicated that personal information related to member firms and registered employees may have been exfiltrated. However, it took several months of forensic analysis to fully assess the impact. CIRO has now confirmed that the incident affected a portion of its current and former members, representing roughly 750,000 Canadian investors. The compromised data varies by individual and may include dates of birth, phone numbers, annual income details, Social Insurance Numbers, government-issued identification numbers, investment account numbers, and account statements. CIRO emphasized that login credentials and account security questions were not affected, as such information is not stored on its systems. The organization reported spending more than 9,000 hours investigating the breach and stated that there is no evidence the stolen data has been misused or posted on the dark web. As a precaution, CIRO will provide affected investors with two years of free credit monitoring and identity theft protection services. Impacted individuals will receive direct notifications with enrollment instructions, while others may contact CIRO to confirm their status.
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