07.28.20

Fund Administrator for Fortress, PIMCO, and Others Suffers Data Breach Through Vendor

by: Dylan Tokar; James Rundle; Juliet Chung

A ransomware attack against a vendor of SEI Investments detected in May exposed the personal information of investors in roughly 100 of the fund administrator's clients, say insiders. Fortress Investment and PIMCO were among the funds whose investors were impacted by the attack, which infiltrated the corporate systems of M.J. Brunner, a service provider that developed and supports SEI's investment dashboard and online enrollment portal. Hackers took files from Brunner that contained personal information associated with the dashboard. The attack is the latest in a string of ransomware incidents that have affected the financial services sector through its suppliers, drawing regulatory scrutiny. On July 10, the SEC published a warning that it had seen sophisticated cyberattacks targeting companies it regulates and their third-party suppliers.

Read the full article on Wall Street Journal.