TradeFreedom Securities Recent "Unauthorized Intrusion"
Technorati Tag: Security Breach
Contractor/Consultant:
None
Number Affected:
Unknown
Types of Data:
Name, Social Insurance number (Canada), city, province and postal code
Breach Description:
"recent unauthorized intrusion" into a "secondary" computer system.
Reference URL:
http://www.theglobeandmail.com/servlet/story/LAC.20070828.RTRADEFREEDOM28/TPStory/Business
Report Credit:
ReportonBusiness.com
Commentary:
Details are very sketchy on this breach. TradeFreedom Securities is a Canadian online brokerage firm not unlike eTrade in the United States. I assume that there will be more information to report in the future. a spokesman at the federal Office of the Privacy Commissioner of Canada stated that a commissioner-initiated investigation may follow. Sounds like a good idea to me! There is no mention of the breach on the company's Web site (http://www.tradefreedom.com/en/home/)
Response:
From the online article cited above:
"We have subsequently determined that, despite our security systems in place at the time, this unauthorized intrusion has also resulted in the compromise of some of your personal information," TradeFreedom said. "This information is your name, social insurance number, city, province and postal code."
Past Breaches: None since August 2007
Date Reported:
8/27/07
8/27/07
Organization:
TradeFreedom Securities
TradeFreedom Securities
Contractor/Consultant:
None
Number Affected:
Unknown
Types of Data:
Name, Social Insurance number (Canada), city, province and postal code
Breach Description:
"recent unauthorized intrusion" into a "secondary" computer system.
Reference URL:
http://www.theglobeandmail.com/servlet/story/LAC.20070828.RTRADEFREEDOM28/TPStory/Business
Report Credit:
ReportonBusiness.com
Commentary:
Details are very sketchy on this breach. TradeFreedom Securities is a Canadian online brokerage firm not unlike eTrade in the United States. I assume that there will be more information to report in the future. a spokesman at the federal Office of the Privacy Commissioner of Canada stated that a commissioner-initiated investigation may follow. Sounds like a good idea to me! There is no mention of the breach on the company's Web site (http://www.tradefreedom.com/en/home/)
Response:
From the online article cited above:
"We have subsequently determined that, despite our security systems in place at the time, this unauthorized intrusion has also resulted in the compromise of some of your personal information," TradeFreedom said. "This information is your name, social insurance number, city, province and postal code."
"We are dealing with our customers on a case-by-case basis and communicating directly with them based on how they have been impacted, if at all, by this situation. Not all of our customers have been," he said, adding that "not every single customer was impacted in the exact same way."
And a breach wouldn't be a breach if we didn't have one of our standard corporate responses:
"TradeFreedom's investigation has not found any evidence that client's accounts and assets have been compromised." Because no evidence has be found certainly DOES NOT mean it has not ot will not happen.
"TradeFreedom's investigation has not found any evidence that client's accounts and assets have been compromised." Because no evidence has be found certainly DOES NOT mean it has not ot will not happen.
Past Breaches: None since August 2007
Posts Atom 1.0
I am a tradefreedom client who has been effected by this breach. The statement they've made, "TradeFreedom's investigation has not found any evidence that client's accounts and assets have been compromised", is untrue. Hackers were able to record personal information including account login and i.d's. My account alone suffered a $200 000.00 loss. To this date Tradefreedom will not compensate, although admitting the breach was their fault. They somehow feel they are not accountable.
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Please forward my email to Dustin. I'm a TradeFreedom customer. I'd like him to keep me posted as to how he makes out. Thanks.
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Hello Dustin Knight, I was wondering if you had any luck in getting back the 200k from your account? It's very surprising to hear that tradefreedom didn't compensate at all since it was in their account. Did the hackers just wire transfer the 200k to their account? I'm debating if I should cancel my tradefreedom account and change my SIN. I've had 2 credit card applications done which were not mine.
Admin: please supply my email to Dustin Knight. Thanks!
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Dustin,
This is truly sad. Although a company may not be required to compensate victims by law, there is something to be said for doing the right thing and maintaining a sense of trust.
Two online brokerages that I respect for their reaction to a breach in 2006 are Ameritrade and E-Trade, both of which compensated victims even though they didn't necessarily have to. Ameritrade spent a reported $4,000,000US and E-Trade spent a reported $18,000,000US to compensate their customers!
Reference:http://www.computerworld.com.au/index.php/id;1493311377;fp;4194304;fpid;1
Have you sought any legal counsel to determine what your rights are under Canadian law?
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I am in the process, two layers i've contacted already deal regularly with Scotiabank (the parent company) therefore are "not be able to accept an engagement that would be adverse to their interests." So the hunt continues. not easy to find experience with this. I'm also trying to contact other clients who have been effected.
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I too am affected by the breach. How do I contact Dustin?
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Hi Adam,
As administrator of the blog, I have access to both yours and Dustin's email addresses. Unfortunately, I cannot give you Dustin's email address without his approval.
Dustin,
Please post a comment with your approval and I will send Adam your email address offline.
I wish the both you of the best!
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I have had an account with Tradefreedom for about a year now, and I was also hit with the security breach, but did not lose any money. Could someone please tell me whether the QPP or RCMP commercial crime squad is investigating the case, and if so - how far are they into their investigations? I get no answers from Tradefreedom, but I strongly believe that I have a legitimate question, or am I being naive? If the police shuts up I can understand that up to a point, but the question still arises - how safe is my money and the money of all the other investors?
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I am a Tradefreedom customer. My info was stolen. Now these guys are using ALL of my info to obtain credit cards! Protect yourself! Be vigilant and contact the three credit reprting agencies often! Equifax, Tansunion and Expirion.
I want to file a class-action lawsuit against Tradefreedom. I am wondering if any are in progress yet. Please email me at ballbag(at)shaw.ca if any of you are aware.
Thanks very much!
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