News Summary

Wealthsimple, a major Canadian FinTech firm, experienced a security breach on August 30th, exposing personal data of fewer than one percent of its three million clients. The breach was traced to a compromised third-party software package, though no passwords or funds were accessed or stolen. Sensitive information accessed included contact details, government IDs, financial account numbers, IP addresses, social insurance numbers, and dates of birth. In response, Wealthsimple has offered affected customers two years of free credit and dark-web monitoring, identity theft protection, and insurance. The company has also enhanced data security measures and informed government regulators. Wealthsimple, founded in 2014, is a leader in providing investing, cryptocurrency, tax filing, spending, and saving products in Canada.