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Anthem data breach ‘could cost $100 million’

The data breach suffered by US health insurance provider Anthem could have a huge financial impact.

According to ZDnet, reports have suggested the fallout of the cyber attack may cost the company as much as $100 million (£65 million).

The breach was confirmed by Anthem last week and led to around 80 million records being either exposed or stolen.

Customers’ names, email addresses, medical IDs and Social Security numbers are among the information that has now fallen into hackers’ hands.

Anthem’s president and chief executive Joseph Swedish described the breach as a “very sophisticated external cyber attack”.

The FBI is looking into the incident, while Anthem itself is also investigating how such a security failure was allowed to happen.

It has been reported that the hackers managed to infiltrate the organisation’s systems thanks to a stolen password. Reports have also claimed the company did not encrypt the Social Security numbers held in its database.

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From:: http://www.krollontrack.co.uk/company/press-room/data-recovery-news/anthem-data-breach-could-cost-$100-million124.aspx

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