OPM Breach: Update

You probably remember that in early June, the Obama administration and OPM announced that the OPM systems were breached in April, and that the information of around 4 million Federal Employees was compromised.

A Second Breach

Unfortunately, we now know about a second, more severe breach of the same systems that exposed the information of 19 million people who applied for security clearances and 2 million others, a total of 21 million people or more.

The exposed information includes criminal, financial, and health backgrounds, as well as addresses, job histories, and family and acquaintance information (basically, anything that would be included in a security clearance application).

Is There any Good News?

The good news is that there’s no sign that whoever stole the information has actually used it for anything. But even though it’s not time to rush the bank for all your cash and go into hiding, it’s a good idea to take some precautions. For a list of ways to help keep your information safe, check out our article on the first OPM breach:

Remember, be cautious of any strange emails you get, and keep an eye on all your accounts. Keep your passwords private and change them often, and shred any legal documents or personal information you don’t need.

Try to stay alert, but don’t panic–with a little bit of caution and extra monitoring, it’s likely your accounts will be alright.

For over 30 years, federal employee retirement planning has been a key focus of Medallion Financial Group. We recognize that FERS retirement benefits have extra layers of complexity, such as the Thrift Savings Plan (TSP), 401K, Pension plan, FEGLI and more. It’s easy to get lost in a sea of bad advice when so few people understand the basics. We help with the basics and beyond to enable our clients to get the education and advice they need to retire with confidence.

Our focus is twofold: first and foremost, we are fiduciary advisors. We stand against any violation of laws, values, and ethics. Second, we treat our clients as part of our family, not only those who call Maryland and Georgia home, but clients across the US who have benefited from our reputation of personal service, integrity, and expertise.

We strive to exceed client’s expectations – because we have high expectations of ourselves.