Cybercriminals are always on the lookout for new targets, and the insurance industry appears to be a popular choice. Insurance companies are attractive to hackers due to the wealth of personal, financial, and medical data they hold.
Recently, American Family Life Assurance Company (Aflac) confirmed that it was one of the victims of a well-known cyber gang. Now, another insurance provider has been affected by a data breach. Allianz Life Insurance Company of North America has announced a breach that exposed personal information of the majority of its 1.4 million customers.
How the Allianz data breach occurred
According to reports, hackers gained access to a cloud-based customer relationship management (CRM) platform used by the Minneapolis-based insurer. The breach took place on July 16 and impacted data of customers, financial professionals, and some employees.
Allianz stated that the attackers used social engineering tactics to infiltrate their systems, although specific details were not disclosed. Social engineering attacks typically involve deceiving employees into revealing passwords or installing malicious software to gain unauthorized access.
What personal data was compromised
Allianz did not specify the type of customer data that was compromised. However, life insurance companies commonly store highly sensitive information such as Social Security numbers, dates of birth, and financial particulars.
The investigation into the breach is ongoing, and Allianz has started reaching out to those affected to provide support through dedicated resources.
Best practices to stay secure after a data breach
1. Invest in a data removal service
While you can’t undo the data breach, you can minimize the impact by utilizing a data removal service to eliminate your personal information from the internet.
2. Use identity theft protection services
Consider employing identity theft protection services to monitor sensitive information and receive alerts if any unusual activity is detected.
3. Enable two-factor authentication (2FA)
Implement 2FA for your important accounts to add an extra layer of security.
4. Beware of phishing and follow-up scams
Remain cautious of phishing emails and scams following a data breach, and avoid clicking on suspicious links.
5. Freeze your credit
Place a credit freeze with major credit bureaus to prevent unauthorized accounts from being opened in your name.
6. Update your passwords
Change passwords for all critical accounts and consider using a password manager for added security.
7. Monitor your accounts
Regularly check your accounts for any signs of suspicious activity.
8. Report identity theft
If you suspect identity theft, report it promptly to the relevant authorities.
Kurt’s key takeaway
The breach at Allianz Life follows a familiar pattern where hackers target third-party vendors to access customer data. Transparency regarding the extent of the breach and the stolen data is crucial in such situations.
Do you trust insurance companies to safeguard your personal information? Share your thoughts with us.
