Dow Jones CEO William Lewis on Friday, announced that hackers gained unauthorized entry into the systems, accessing information of current and former subscribers. Dow Jones runs The Wall Street Journal and financial publication MarketWatch.
In a letter to customers, the CEO warned that the attack has been aimed to access contact information such as names, addresses and phone numbers, email addresses and phone numbers in order to send fraudulent solicitations.
William Lewis added that their extensive review has not uncovered any direct evidence that information was stolen, and we have taken steps to stop the unauthorized access. Lewis stated that the incident was a part of a broader campaign involving a number of other victim companies.
Scotterade brokerage was notified of their breach in August while Dow Jones found about the data breach in late July. A company investigation with the help of a cybersecurity firm revealed that the data breach occurred between August 2012 and July 2015, and Scotterade’s breach occurred between late 2013 and early 2014. A Scottrade spokesman said that the FBI asked them not to disclose information to their customers so that they could complete a part of the investigation. Target and Home Depot faced major expenses after the data breach, and Target is set to reimburse millions of dollars for costs incurred during the data breach.
If this a part of a multi-company cyber attack, it remains unclear as how many financial institutions are involved and the final total of victims. More than five million individuals are likely to be affected by the major data breach at Dow Jones and Scottrade. The FBI on Friday, asked to notify the clients about the data breach. In its letter, Dow Jones has said that it has taken steps to stop the hack. The letter said the company is cooperating with the ongoing investigation and the law enforcement.