LakeView Asset Management, LLC has told people that a data security incident may have involved some of their information, and it is offering complimentary identity monitoring through Kroll.
Here is what the notice says, what it leaves out, and what you can do if you received one.
LakeView Asset Management, LLC’s Data Breach Investigation
LakeView Asset Management, LLC is based in Henderson, Nevada. According to its notice, LakeView is not affiliated with Osaic Wealth, Inc., but its financial professionals are licensed with Osaic for the sale of securities and the provision of financial advice. This page is based on a sample notification letter that LakeView filed with the Massachusetts state government, which publishes breach notification letters on a public list.
In the letter, LakeView says it is writing to make people aware of a data security incident that may have involved some of their information. The letter closes by saying the company has taken, and will continue to take, steps to enhance the security of its email environment. That reference suggests the incident involved the company’s email systems, but the filed letter does not describe how the incident happened, and this page does not speculate about it.
The sample filed with the state is a mail-merge template. It uses placeholders in place of the recipient’s name and address, the date of the letter, the specific data elements involved, and the deadline to activate monitoring. That means the public filing does not tell readers which personal details were involved for any one person, when the incident occurred or was discovered, or how many people were notified. This page does not state any of those facts, because the filing does not supply them.
LakeView says it has arranged for Kroll to provide identity monitoring at no cost for 24 months. The services described include credit monitoring, fraud consultation and identity theft restoration. The letter directs people to Kroll’s enrollment website and says each person has a membership number and an activation deadline. The deadline is blank in the template, so recipients should check their own letter for the date.
The letter explains the credit monitoring in some detail. It says the service sends alerts when there are changes to a person’s credit data, such as a new line of credit applied for in their name, and that a Kroll fraud specialist is available to help work out whether the activity is a sign of identity theft. To receive the credit services, a person must be over 18, have established credit in the United States, have a Social Security number in their name and have a U.S. residential address on their credit file.
The letter also describes the fraud consultation and restoration services. The consultation gives unlimited access to a Kroll fraud specialist who can explain legal rights and protections and help with fraud alerts. If someone becomes a victim of identity theft, a licensed investigator is assigned to work on their behalf to uncover the scope of the problem and resolve it. A toll-free line is listed for questions, staffed on weekdays during business hours Eastern time, excluding some major holidays.
The notice reviews standard consumer protections. It reminds people to review account statements and free credit reports over the next 12 to 24 months and says everyone can get a free credit report every 12 months from each of the three nationwide credit reporting companies through annualcreditreport.com. It explains that an initial fraud alert stays on a credit report for one year and an extended alert, for people who have already been victims of identity theft, stays for seven years.
It also explains security freezes, including that a freeze stays in place until the consumer asks a credit bureau to lift or remove it, that a bureau must lift a freeze within one hour if the request is made online or by phone, and that mailed requests must be handled within three business days. A Massachusetts section notes the right to file and obtain a police report and to request a security freeze.
When a notice does not say which data was exposed, treat it as a prompt to tighten the basics. Watch your financial accounts, be careful with unexpected calls, texts or emails that mention the incident, and contact the company using details from its own website or your letter rather than details in a message you did not expect.
When Did This Breach Occur?
The filed sample letter does not state when the incident occurred, when it was discovered, or the date of the notice, because those fields are left as template placeholders.
This page does not estimate any dates that the company has not published.
What Information Was Breached?
The notice says the information that may have been involved includes the recipient’s name and other data elements. The filed sample does not list the specific data types.
The company has not published a list of data elements. Your own letter should describe the information that applies to you.
What You Can Do
If you received a notice related to LakeView Asset Management, LLC or believe you may be affected, consider these steps:
- Read the notice carefully and keep it, along with any enrollment details for protection services it offers.
- Enroll in the complimentary Kroll identity monitoring before the activation deadline in your letter, using the enrollment website and membership number it provides.
- Place a free fraud alert or a credit freeze with Equifax, Experian and TransUnion, and get your reports free at annualcreditreport.com.
- Review bank, card and insurance statements for anything you do not recognize.
- Be skeptical of unexpected calls, texts or emails that mention the incident, and report suspected identity theft to the Federal Trade Commission at identitytheft.gov.
File a Data Breach Lawsuit Against LakeView Asset Management, LLC
If your personal information was exposed in this incident, you may have legal options. Organizations are expected to protect the sensitive information they are trusted with, and a class action can help hold them accountable when security falls short.
Contact us at Class Action U, where we’ll connect you with a lawyer skilled in class action lawsuits. If you’ve been contacted about this breach, received notice, or discovered you were impacted, fill out our quick, easy, and secure form to sign up. There is no cost to reach out to our legal partner and no obligation after speaking with someone from our team.
