LL Funds, LLC Data Breach

Understanding the LL Funds, LLC Data Breach

LL Funds, LLC, an investment management firm based in Philadelphia, PA, recently experienced a data security incident that may have compromised sensitive consumer information. The company, which specializes in opportunistic investments in asset-backed securities and related companies, manages approximately $2.3 billion for its clients.

On January 4, 2024, LL Funds detected unusual activity within its digital environment. The company responded swiftly by securing its network and initiating a thorough investigation with the help of independent cybersecurity experts. This investigation revealed that an unauthorized actor had gained access to certain files and data stored within LL Funds' systems.

By February 29, 2024, LL Funds confirmed that personal information, including names, Social Security numbers, and driver's license numbers, may have been affected by the breach. It is important to note that, as of now, there is no evidence to suggest that this information has been misused.

In response to the incident, LL Funds has taken significant steps to enhance its security protocols to prevent similar breaches in the future. The firm is also providing affected individuals with complimentary identity protection services, including Single Bureau Credit Monitoring, Credit Report, and Credit Score services for 24 months through Cyberscout, a TransUnion company.

Immediate Steps for Affected Individuals

If you believe you may have been affected by the LL Funds data breach, consider taking the following actions:

1. Enroll in Complimentary Credit Monitoring Services: You can sign up for the offered services at Identity Force using the unique code provided in the notice: T84SZDV5DW. Enrollment is available for 90 days from the date of the notice.

1. Review Account Statements: Keep an eye on your financial statements and credit reports for any unauthorized activity. Report any suspicious transactions to your financial institution immediately.

1. Place Fraud Alerts: Contact one of the three major credit bureaus—Equifax, Experian, or TransUnion—to place a fraud alert on your credit report. This will notify creditors to verify your identity before opening new accounts in your name.

1. Consider a Credit Freeze: A credit freeze will prevent credit from being opened in your name without a PIN. Contact the credit bureaus directly to set up a freeze.

1. Obtain an IRS Identity Protection PIN: This PIN will help prevent tax-related identity theft by ensuring that only you can file a tax return with your Social Security number. Visit the IRS website to get your IP PIN.

1. Stay Informed: For more details or assistance, you can contact the help line provided by LL Funds at 1-800-405-6108, available Monday through Friday from 8:00 am to 8:00 pm Eastern time.

Additional Resources

For more information on protecting your information and your rights under the Fair Credit Reporting Act (FCRA), you can visit the FTC's website. You can also obtain a free copy of your credit report from each of the three major credit reporting agencies once every 12 months by visiting AnnualCreditReport.com or by calling toll-free 877-322-8228.

Conclusion

The LL Funds data breach is a reminder of the importance of vigilance in protecting personal information. By taking the recommended steps and utilizing the resources provided, affected individuals can help safeguard their identity and financial well-being. For further details on the breach and the response from LL Funds, you can access the full disclosure on the Massachusetts Attorney General's website.