EIS fund custodian suffers data breach after cyber-attack

The IT systems of Mainspring have been hacked and data taken. To what extent, following an initial investigation, is as yet unclear.

Cyber criminals have infiltrated a London-based fund administrator and custodian’s IT system. This has placed customers’ personal data at risk.

Mainspring notified clients earlier this week it had suffered a data breach, following a targeted ransomware attack on the morning of 12th July 2022.

It is the largest provider of outsourced custodian and nominee services in the enterprise investment space (EIS). It counts Mercia Asset Management and Parkwalk Advisers among its clients. In 2020, it acquired the Share Centre’s EIS division.

Clients have been informed that all their assets and money are safe. However, it is likely their personal data has been compromised. This includes everything from names to residential addresses, work emails, location data and, in some cases, bank details and investment holdings.

The incident has been reported to Action Fraud UK, the Financial Conduct Authority and the Information Commissioner’s Office.