Apollo Global Reveals Data Breach After Hackers Target Financial Firms

Asset manager Apollo Global Management suffered a data breach last month in which hackers stole some personal information, according to a letter on Friday.

The New York-based firm was among dozens of prominent U.S. financial institutions and other businesses that were recently targeted by ransom-seeking hackers who use phone calls to compromise their victims, Reuters reported earlier this month.

Apollo said its investigation found there was unauthorized access to certain cloud platforms between July 6 and July 10. The firm notified law enforcement and engaged outside cybersecurity and forensic experts to investigate the breach.

The company earlier this month learnt that the information potentially impacted by the data breach included names, dates of birth, contact information, home addresses, and social security numbers.

Internet intelligence data reviewed by Reuters had shown that hackers devised websites aimed at stealing passwords from employees of private equity firms and financial companies.

Low-tech tactics such as phone calls to target the financial industry still rank among the most effective ones despite the emergence of sophisticated security programs and AI-driven threats, according to experts.

Apollo’s investigation remains ongoing and the firm hasn’t found evidence that stolen information has been publicly posted or used for identity theft or fraud at this time.

Affected individuals whose information was stolen are being offered complimentary third-party identity protection and credit monitoring services by the firm, Apollo Global Head Of Human Capital Matthew Breitfelder said in the letter.

Cybercriminals had built digital traps for hundreds of companies recently, including ride-hailing company Uber and jeans brand Levi Strauss, Reuters reported earlier this month.

Uber Freight and Levi Strauss earlier this month said they were investigating cybersecurity incidents involving unauthorized access to their systems.