{"id":608982,"date":"2023-02-17T07:49:13","date_gmt":"2023-02-17T13:49:13","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/02\/17\/financial-advisory-firm-succession-wealth-probes-cyber-attack\/"},"modified":"2023-02-17T07:49:13","modified_gmt":"2023-02-17T13:49:13","slug":"financial-advisory-firm-succession-wealth-probes-cyber-attack","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/02\/17\/financial-advisory-firm-succession-wealth-probes-cyber-attack\/","title":{"rendered":"Financial advisory firm Succession Wealth probes cyber attack"},"content":{"rendered":"<div>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.computerweekly.com\/visuals\/ComputerWeekly\/Hero Images\/financial-results-chart-graph-4-adobe_searchsitetablet_520X173.jpg\" data-credit=\"pressmaster - stock.adobe.com\"  width=\"520\" height=\"173\" alt><\/p>\n<p>pressmaster &#8211; stock.adobe.com<\/p>\n<\/p><\/div>\n<div id=\"content-header\">\n<h2>Aviva-owned wealth consultancy and financial advisory practice Succession Wealth was hit by an undisclosed security incident on 8 February<\/h2>\n<\/div>\n<div id=\"content-center\">\n<ul>\n<li><i data-icon=\"1\"><\/i><\/li>\n<li><i data-icon=\"2\"><\/i><\/li>\n<\/ul>\n<div id=\"contributors-block\">\n<p><img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/rms\/computerweekly\/Alex-Scroxton-CW-Contributor-2022.jpg\" alt=\"Alex Scroxton\">\n\t\t\t\t\t<\/p>\n<p><span>By<\/span><\/p>\n<ul>\n<li>\n\t\t\t\t\t<a href=\"https:\/\/www.techtarget.com\/contributor\/Alex-Scroxton\">Alex Scroxton,<\/a><br \/>\n\t\t\t\t\t\t<span>Security Editor<\/span>\n\t\t\t\t\t\t<\/li>\n<\/ul>\n<p>\n\tPublished: <span>16 Feb 2023 14:32<\/span>\n<\/p>\n<\/div>\n<section id=\"content-body\">\n<p><a href=\"https:\/\/www.successionwealth.co.uk\/\">Succession Wealth<\/a>, a UK-based wealth management and financial planning specialist that was <a href=\"https:\/\/www.aviva.com\/newsroom\/news-releases\/2022\/03\/aviva-to-acquires-succession-wealth\/\">acquired by insurance and pensions giant Aviva in 2022<\/a>, has moved to reassure customers after revealing it is conducting an investigation into a cyber security incident of an as-yet undisclosed nature.<\/p>\n<p>Details of the incident are thin on the ground, but it is known that the firm was first alerted to a potential attack on its IT systems on 8 February.<\/p>\n<p>In a statement circulated to the media, a spokesperson for the financial advisory firm said: \u201cSuccession Wealth has suffered a cyber attack. We quickly launched an investigation and have notified the appropriate authorities. The security of our clients\u2019 information is our top priority and, as a precaution while the investigation is ongoing, we have quickly introduced additional security measures.\u00a0<br \/>\n <u5:p><\/u5:p><\/p>\n<p>\u201cSuccession Wealth will ensure that clients will not suffer financial loss if their personal data held by Succession is misused as a result of the attack. We are working to assess and resolve this situation, but at this stage, we cannot comment on the nature of this attack.<\/p>\n<p>\u201cWe will give further updates as and when appropriate to do so. We understand this will cause concern for our clients and we apologise for this,\u201d they said.<\/p>\n<p>Founded in 2009, Succession Wealth runs a network of more than 200 financial advisors and has over 20,000 clients. It specialises in long-term wealth management and financial planning, whether that be retirement planning, family investments, savings and so on. It has 19 offices around the UK, and approximately \u00a310bn worth of assets under advice.<\/p>\n<p>Its \u00a3385m acquisition by Aviva was designed to bolster the latter\u2019s presence in the UK wealth market, which was worth over \u00a31.6tn in 2020. It gives Aviva the ability to offer financial advice to its four million workplace pension customers and two million private customers.<\/p>\n<p>Casey Ellis, CTO and founder of crowdsourced security specialist <a href=\"https:\/\/www.bugcrowd.com\/\">Bugcrowd<\/a> and founder of <a href=\"https:\/\/disclose.io\/\">Disclose.io<\/a>, commented: \u201cAt first glance, the mention of additional security measures and customer data sounds like it could be a ransomware attack, but we\u2019re only able to speculate at this point.<\/p>\n<p>\u201cThe exact exposure to clients is unclear as it sounds like they are themselves fathoming out what has happened, how to fix it and the full extent of the breach.<\/p>\n<p>\u201cThey have offered assurances to customers and staff re: the impact, so in doing so we can assume they have a good idea of what\u2019s going on [and], as part of the Aviva Group, there will be a lot of bright cyber security minds on this right now,\u201d said Ellis.<\/p>\n<p>\u201cThe crisis comms team will also be at full throttle as this is now as much about reputation. The organisation holds very personal financial data for many,\u201d he added.<\/p>\n<p>Succession Wealth joins a string of cyber attack victims in the UK so far in 2023, the most high-profile being <a href=\"https:\/\/www.computerweekly.com\/news\/365531392\/Royal-Mail-refused-to-pay-66m-LockBit-ransom-demand-logs-reveal\">Royal Mail<\/a> and financial software firm <a href=\"https:\/\/www.computerweekly.com\/news\/365530204\/LockBit-gang-confirms-Ion-cyber-attack-as-disruption-continues\">Ion Group<\/a>, both of which were held to ransom by the LockBit gang, currently one of the most prolific ransomware operations in the world.<\/p>\n<p>Julia O\u2019Toole, CEO of access segmentation and encryption specialist <a href=\"https:\/\/mycena.co\/\">MyCena<\/a>, said the majority of such breaches were still occurring through compromised credentials.<\/p>\n<p>\u201cWhen it comes to addressing these ever-prevalent attacks, organisations must start by tightening access controls across their external and internal networks. Today, most organisations let employees generate their own digital keys or passwords to access the network, but this puts both the organisation and its customers at risk, as that password can be phished or social engineered,\u201d she said.<\/p>\n<p>\u201cAn easy way to counter this vulnerability is by encrypting employee credentials, which makes them much harder to steal, and by implementing network access segmentation. This is a key ransomware prevention technique, as it prevents attackers from travelling across networks even if they manage to gain entry.\u201d<\/p>\n<\/section>\n<section id=\"DigDeeperSplash\">\n<h4>\n\t\t\t<i data-icon=\"m\"><\/i>Read more on Data breach incident management and recovery<\/h4>\n<ul>\n<li><a id=\"DigDeeperItem-1\" href=\"https:\/\/www.computerweekly.com\/news\/365530214\/Suspected-LockBit-ransomware-attack-causes-havoc-in-City-of-London\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/visuals\/ComputerWeekly\/HeroImages\/City-of-London-conorcrowe-adobe_searchsitetablet_520X173.jpg\" srcset=\"https:\/\/cdn.ttgtmedia.com\/visuals\/ComputerWeekly\/HeroImages\/City-of-London-conorcrowe-adobe_searchsitetablet_520X173.jpg 960w,https:\/\/cdn.ttgtmedia.com\/visuals\/ComputerWeekly\/HeroImages\/City-of-London-conorcrowe-adobe.jpg 1280w\" alt ><\/p>\n<h5>Suspected LockBit ransomware attack causes havoc in City of London<\/h5>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/rms\/computerweekly\/Alex-Scroxton-CW-Contributor-2022.jpg\" alt=\"AlexScroxton\">\n\t\t\t\t\t\t\t\t\t<\/p>\n<p><span>By: <span>Alex\u00a0Scroxton<\/span><\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<p>\t\t\t\t<\/a><\/li>\n<li><a id=\"DigDeeperItem-2\" href=\"https:\/\/www.computerweekly.com\/news\/252520950\/EU-must-stand-ground-on-cyber-security-says-Finlands-WithSecure\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/rms\/computerweekly\/Helskini-Finland-Fotolia_searchsitetablet_520X173.jpg\" srcset=\"https:\/\/cdn.ttgtmedia.com\/rms\/computerweekly\/Helskini-Finland-Fotolia_searchsitetablet_520X173.jpg 960w,https:\/\/cdn.ttgtmedia.com\/rms\/computerweekly\/Helskini-Finland-Fotolia.jpg 1280w\" alt ><\/p>\n<h5>EU must stand ground on cyber security, says Finland\u2019s WithSecure<\/h5>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/rms\/computerweekly\/Joe-Fay-140x180.jpg\" alt=\"JoeFay\">\n\t\t\t\t\t\t\t\t\t<\/p>\n<p><span>By: <span>Joe\u00a0Fay<\/span><\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<p>\t\t\t\t<\/a><\/li>\n<li><a id=\"DigDeeperItem-3\" href=\"https:\/\/www.computerweekly.com\/news\/252520714\/Most-CFOs-being-left-out-of-ransomware-conversations\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/visuals\/ComputerWeekly\/Hero Images\/dice-risk-gamble-adobe_searchsitetablet_520X173.jpg\" srcset=\"https:\/\/cdn.ttgtmedia.com\/visuals\/ComputerWeekly\/Hero%20Images\/dice-risk-gamble-adobe_searchsitetablet_520X173.jpg 960w,https:\/\/cdn.ttgtmedia.com\/visuals\/ComputerWeekly\/Hero%20Images\/dice-risk-gamble-adobe.jpeg 1280w\" alt ><\/p>\n<h5>Most CFOs being left out of ransomware conversations<\/h5>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/rms\/computerweekly\/Alex-Scroxton-CW-Contributor-2022.jpg\" alt=\"AlexScroxton\">\n\t\t\t\t\t\t\t\t\t<\/p>\n<p><span>By: <span>Alex\u00a0Scroxton<\/span><\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<p>\t\t\t\t<\/a><\/li>\n<li><a id=\"DigDeeperItem-4\" href=\"https:\/\/www.computerweekly.com\/news\/252507668\/Two-arrests-made-in-European-ransomware-investigation\"><br \/>\n\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/visuals\/ComputerWeekly\/Hero Images\/cyber-crime-piracy-handcuffs-Fotolia_searchsitetablet_520X173.jpg\" srcset=\"https:\/\/cdn.ttgtmedia.com\/visuals\/ComputerWeekly\/Hero%20Images\/cyber-crime-piracy-handcuffs-Fotolia_searchsitetablet_520X173.jpg 960w,https:\/\/cdn.ttgtmedia.com\/visuals\/ComputerWeekly\/Hero%20Images\/cyber-crime-piracy-handcuffs-Fotolia.jpg 1280w\" alt ><\/p>\n<h5>Two arrests made in European ransomware investigation<\/h5>\n<div>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.ttgtmedia.com\/rms\/computerweekly\/Alex-Scroxton-CW-Contributor-2022.jpg\" alt=\"AlexScroxton\">\n\t\t\t\t\t\t\t\t\t<\/p>\n<p><span>By: <span>Alex\u00a0Scroxton<\/span><\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/div>\n<p>\t\t\t\t<\/a><\/li>\n<\/ul>\n<\/section>\n<\/div>\n<p><a href=\"https:\/\/www.computerweekly.com\/news\/365531378\/Financial-advisory-firm-Succession-Wealth-probes-cyber-attack\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Marquis Drews<\/p>\n","protected":false},"excerpt":{"rendered":"<p>pressmaster &#8211; stock.adobe.com Aviva-owned wealth consultancy and financial advisory practice Succession Wealth was hit by an undisclosed security incident on 8 February By Alex Scroxton, Security Editor Published: 16 Feb 2023 14:32 Succession Wealth, a UK-based wealth management and financial planning specialist that was acquired by insurance and pensions giant Aviva in 2022, has moved<\/p>\n","protected":false},"author":1,"featured_media":608983,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36960,534,46],"tags":[],"class_list":{"0":"post-608982","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-advisory","8":"category-financial","9":"category-technology"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/608982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=608982"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/608982\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/608983"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=608982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=608982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=608982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}