FXCM Chats with Clients Compromised in Cyber Attack

FXCM Chats with Clients Compromised in Cyber Attack

January 13, 2021

Global FX broker FXCM Inc said its systems in Israel were partially hacked after “an unauthorized person” had broken into its data base and copied information relating to the company’s conversations with clients.

The news was first reported by Israel finance and business outlet Globes, which confirmed on Sunday that FXCM was the victim of a criminal cyber security incident involving unauthorized access to customer chats.

FXCM explained that “according to internal tests, so far, and to the best of our knowledge,” there was no danger to customers’ money, bank account details or account login passwords. The broker also confirmed that no accounts were compromised during such a malicious attempt and further stated its trading platforms are operating as usual.

The internal investigation will be used to analyze the magnitude of the cyber incident and to identify affected customers and notify them.

According to the FXCM’s announcement “in the morning, the company became aware that an unauthorized person had broken into the company’s computerized data set and copied information from it, including documenting recordings of conversations between customers and company representatives.”

No ransom has been reportedly demanded for the information, as was the case in similar data thefts, and the identity of those behind the attack is not known yet. As such access could potentially jeopardize clients’ sensitive information security, the company has notified the Israeli authorities of the threat.

FXCM CEO Brendan Callan told Finance Magnates that company is examining the sources of the hack and the scope of the information leaked. He further explained that that the company will provide affected customers with information regarding their personal data obtained by the hackers.

FXCM had also notified Israeli’s financial regulator, the Securities Authority (ISA), which asked the company to provide all information to determine the scale of the incident. The watchdog said it is cooperating with both the broker and national cyber security agencies to examine possible risks and obtain guidance.

FXCM is the latest corporation to become a victim of a cybersecurity attack in Israel, with hackers making off with information from servers, including a massive one that targeted the country’s water infrastructure.

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