Identify Theft—Are Your Benefit and Retirement Plans Safe?
Identity theft has been on the rise—and that means plan sponsors have to up their cybersecurity efforts. According to AARP: Identity theft occurs when someone obtains someone else’s personal information, such as a Social Security…
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Morgan Stanley Faces Data Breach Lawsuit
Morgan Stanley Smith Barney, a multinational investment bank and financial services giant, is being sued by former and current clients for allegedly failing to make sure account numbers, social security details, and other personal information…
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COVID-19’s Effect on the Data Breach Terrain
The coronavirus pandemic is compelling businesses across all industries to incorporate new and improved cybersecurity measures into their daily activities. A three-month examination from Teiss, a cybersecurity hub, reports that new threats are emerging faster…
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Mercy Health 401(k) Plan Participants Sue for ERISA Violations
Former and current plan participants in 401(k) plans sponsored by Mercy Health Corporation are now suing the operators of hospitals/clinics and their fiduciaries for ERISA breaches under the Employee Retirement Income Security Act of 1974. The lawsuit…
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Fast Data Breach Response Time Can Salvage Your Company
It is commonly understood that data breaches are emerging at a more rapid pace due to the high volume of people working from home and shopping online. Therefore, your company’s response time towards a cyber-breach can be…
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Marriot International Faces Class Action Lawsuit Over Data Breach
Millions of customers have just slammed the hotel giant Marriot International with a serious class-action lawsuit, demanding significant compensation after their sensitive information was stolen, in one of the world’s most significant data breaches ever….
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5 Cybersecurity Tactics for Plan Sponsors
Though cybersecurity strategies tend to evolve year to year, there are some basic tactics plan sponsors can utilize to safeguard their plan participant’s personal information. Research indicates that roughly 62% of small and midsize businesses…
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Lawsuit Alleges Plan Sponsor Need to Plan Better for Cyber-attacks
Since the dawn of the COVID-19 shutdown that has caused more businesses to a remote environment, cyber-hackers have had ample opportunity to steal plan participant credentials and personal information. The lawsuit, Bartnett v. Abbot Laboratories et al., No….
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What Is a Data Breach and How Can I Effectively Handle One?
According to the cybersecurity hub Norton, a data breach is a “security incident whereby information is accessed without authorization.” It’s crucial to highlight that not all data breaches are deliberate! There have been cases where…
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