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Oct 20, 2017 @ 20:35

Breach alert: COL hacked, says no stock portfolios affected


Leading online stockbrokerage firm COL Financial said it may be a victim of a security breach, potentially compromising the personal information of its over 225,000 customers.

In a letter to clients, COL president Dino Bate said the broker firm “discovered a possible breach in our system involving some personal client information.”
COL, however, was quick to point out that the customers’ security positions were not compromised.

“While this possible breach has not been confirmed, please be assured of the integrity of your account balances and stock positions and that your account transactions have not been compromised. In addition, we have internal control procedures that prevent unauthorised withdrawals from your account,” Bate said.

Bate said COL has taken action to further strengthen the security of its systems and have filed the necessary reports to the National Privacy Commission.

The attack on the company represents one of the largest risks to personally sensitive information.

Using the data stolen, identity thieves can impersonate people with creditors, service providers and lenders who rely on personal identity information.

As of the end of June this year, COL’s client base stood at 225,039, up from 182,228 the same period a year ago.

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