TD Ameritrade Holding Corporation Details

TD Ameritrade Holding Corporation

Omaha, Nebraska • 8900 employees • Financial services

https://www.schwab.com/td-ameritrade

Industry

Financial services

Security Incidents

TD Ameritrade was an American stockbrokerage firm that provided an electronic trading platform for trading various financial assets. The company was originally founded as First Omaha Securities, Inc. in 1971 by Joe Ricketts and later became TD Ameritrade following a series of acquisitions and mergers, including a notable merger with Toronto-Dominion Bank's TD Waterhouse. Over the years, it became known for its comprehensive suite of financial services, which encompassed trading in common stocks, preferred stocks, futures contracts, exchange-traded funds (ETFs), forex, options, mutual funds, fi...
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Security Incidents

TD Ameritrade Holding Corporation Breach of Aug 2023

Severity Score

Moderate to Significant

Type

Unknown

Summary

In August 2023, TD Ameritrade Holding Corporation, a Charles Schwab & Co., Inc. affiliate, experienced a security incident involving MOVEit Transfer, a file-sharing software. An international group of cyber criminals hacked into MOVEit Transfer to steal electronic files, compromising the security of the system. This breach led to the exposure of personal data belonging to over 61,000 TD Ameritrade clients. The incident raised concerns about the security of client information and highlighted the risks associated with cyberattacks on financial institutions. TD Ameritrade faced a class-action law...
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Severity

The breach was severe as an international group of cyber criminals hacked MOVEit Transfer, a software application historically used by TD Ameritrade, to steal electronic files. The breach exposed the personal data of more than 61,000 TD Ameritrade clients to hackers who breached an outside file transfer system.

Impact

The breach impacted TD Ameritrade clients by exposing their personal data to hackers, leading to potential risks of identity theft and financial fraud. Additionally, the breach resulted in TD Ameritrade being hit with class-action suits over the MOVEit hack, raising concerns about data security and customer trust.