{"id":7302,"date":"2018-10-11T15:30:40","date_gmt":"2018-10-11T19:30:40","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=7302"},"modified":"2018-10-11T15:30:40","modified_gmt":"2018-10-11T19:30:40","slug":"cybersecurity-breach-costs-voya-financial-advisors-1m-in-fines","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/cybersecurity-breach-costs-voya-financial-advisors-1m-in-fines\/","title":{"rendered":"Cybersecurity Breach Costs Voya Financial Advisors $1M In Fines"},"content":{"rendered":"<p>Des Moines-based broker Voya Financial Advisors (VFA) has been fined $1 million in a cybersecurity case that\u2019s the first under the <a href=\"https:\/\/www.ftc.gov\/tips-advice\/business-center\/guidance\/fighting-identity-theft-red-flags-rule-how-guide-business\" target=\"_blank\">Identity Theft Red Flags Rule<\/a>. VFA has agreed to pay the fines in relation to a case that saw their systems compromised and the personal information of thousands of the firm\u2019s customers at risk.<\/p>\n<p><a href=\"https:\/\/www.sec.gov\/news\/press-release\/2018-213\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-6045\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2018\/06\/sec-300x198.jpg\" alt=\"sec-300x198\" width=\"300\" height=\"198\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2018\/06\/sec-300x198.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2018\/06\/sec-768x507.jpg 768w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2018\/06\/sec-182x120.jpg 182w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2018\/06\/sec.jpg 923w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>The SEC announced this week<\/a> that it has charged VFA with violating the <a href=\"https:\/\/www.ftc.gov\/enforcement\/rules\/rulemaking-regulatory-reform-proceedings\/safeguards-rule\" target=\"_blank\">Safeguards Rule<\/a> and the Identity Theft Red Flags Rule. These rules were designed to protect customers from cyberattack activity, and protect customers and their confidential information.<\/p>\n<p>In April 2016, over a six-day period, one or more individuals posing as an independent contractor called VFA\u2019s technical support number to request portal password resets for three representatives. Two of those calls came from phone numbers that were used in previous fraudulent activities. Technical support personnel not only reset these passwords but provided the usernames as well.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.silverlaw.com\/blog\/cybersecurity-breach-costs-voya-financial-advisors-1m-in-fines\/\"  title=\"Continue Reading Cybersecurity Breach Costs Voya Financial Advisors $1M In Fines\" class=\"more-link\">Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Des Moines-based broker Voya Financial Advisors (VFA) has been fined $1 million in a cybersecurity case that\u2019s the first under the Identity Theft Red Flags Rule. VFA has agreed to pay the fines in relation to a case that saw their systems compromised and the personal information of thousands of the firm\u2019s customers at risk. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[602,583,608],"tags":[541,1275,1247,1246],"class_list":["post-7302","post","type-post","status-publish","format-standard","hentry","category-class-action","category-sec-actions","category-tech-support-fraud","tag-class-action-2","tag-cybersecurity-breach","tag-scott-silver-voya-financial-advisors","tag-voya-financial-advisors"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cybersecurity Breach Costs Voya Financial Advisors $1M In Fines &#8212; Securities Arbitration Lawyers Blog &#8212; October 11, 2018<\/title>\n<meta name=\"description\" content=\"Des Moines-based broker Voya Financial Advisors (VFA) has been fined $1 million in a cybersecurity case that\u2019s the first under the Identity Theft Red &#8212; October 11, 2018\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/cybersecurity-breach-costs-voya-financial-advisors-1m-in-fines\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Cybersecurity Breach Costs Voya Financial Advisors $1M In Fines &#8212; Securities Arbitration Lawyers Blog &#8212; October 11, 2018\" \/>\n<meta name=\"twitter:description\" content=\"Des Moines-based broker Voya Financial Advisors (VFA) has been fined $1 million in a cybersecurity case that\u2019s the first under the Identity Theft Red &#8212; October 11, 2018\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2018\/06\/sec.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Cybersecurity Breach Costs Voya Financial Advisors $1M In Fines &#8212; 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