Premera Blue Cross Fined $6.9 Million for Data Breach
What’s the price of a data breach?
- Loss of customer trust.
- Tarnished reputation.
- Stolen intellectual property.
- And in the case of Premera Blue Cross, millions of dollars in the form of a HIPAA fine.
Because of escalating cybercrime, many business leaders have made cybersecurity a corporate priority.
Social engineering and increased complexity in cyberattacks make it harder and harder to discern what’s real and what’s a threat. Malicious emails look genuine, that hyperlink to a special deal leads to a compromised site, and communication from your “boss” is actually from a crook.
Data breaches can be a disastrous consequence of such duplicity. One wrong click can literally cost you millions. With Premera, phishing emails led to their costly data breach. The breach went undetected for the better part of a year between 2014 and 2015, exposing over 10 million people’s sensitive data, including social security numbers, dates of birth, email addresses, and bank account information.
“This is definitely a wake-up call for business and organizations, especially those dealing with sensitive information,” said Brian Walker. “No longer can you put off network security as a priority.
“From educating your staff about the numerous threats out there, to building a layered defense to help block increasingly insidious attacks, every company needs to address this.”
“October is National Cybersecurity Awareness Month,” said Aaron Allen. “That tells you things are so bad that we need to dedicate a month to spreading the word about cybercrime. We urge you to start building your defenses (if you already haven’t started). We are here to help.”
Thrive specializes in cybersecurity. From individual security services all the way up to addressing all security needs of a company, Thrive can help keep your systems, people, and data safe. We can also help with compliance so you can avoid big fines and other nasty consequences.