Wells Fargo Clearing Services, operating as “First Clearing,” filed a notice of data breach with the Attorney General of Massachusetts after discovering that an unauthorized party gained access to its IT network. The company disclosed that sensitive consumer data, including names, Social Security numbers, and brokerage account numbers, was compromised in the breach.
Wells Fargo Clearing Services learned of a potential security breach involving unauthorized access to files within its network. Upon discovering the issue, the company secured its systems and launched a comprehensive investigation to determine the extent of the breach. The investigation revealed that an unauthorized entity accessed certain files and folders containing confidential consumer data.
Wells Fargo Clearing Services recently completed a review of the compromised information to identify the individuals affected. While the details of the leaked data vary for each person, the breach may include names, Social Security numbers, and brokerage account numbers.
In response to the breach, Wells Fargo Clearing Services began sending out data breach notification letters to impacted individuals on September 19, 2024. These letters provide recipients with information about the compromised data and guidance on protective measures they can take.
Wells Fargo Clearing Services, based in St. Louis, Missouri, is a Wells Fargo & Co subsidiary. The company provides clearing and custody services to independent brokerage firms. With over 946 employees and generating approximately US$141 million in annual revenue, Wells Fargo Clearing Services plays a critical role in supporting financial institutions not directly affiliated with Wells Fargo.
