Anthem Data Breach Settlement Report- $39.5 Million Cost

The Anthem data breach settlement is nearly $40 million. This so happened last September 2020. In addition, this pertains to the massive cyberattack against the company last 2015.

Anthem Data Breach Settlement

Anthem Inc., is one of the largest health insurers in the United States. 

The company experienced a data breach in 2015. Moreover, it has been stated that the attack was executed by a state-sponsored criminal group.

In addition, the company excuses itself for violating data security laws. Because they believe that they have done their part. Even done commitments to take high-security measures of data handling. 

Attack Examination

Way back in February 2015, Anthem Inc. disclosed the attack. That is why several examinations were initiated. As a result, the examination shows some 80 million compromised records in the database.

These data belong to its existing employees. Not to mention its past employees, which are also included in the attack.

However, the investigation concludes that this attack is a byproduct of fraud. That is by the FBI and FireEye security entity.

Data Breach Fever

Anthem Inc.’s data breach is only a single account among thousands of data breach reports. This is because not a day goes by without these incidents headlining the news.

Thus, companies need to understand the reasons why an attack takes place. What are the most common causes of a data breach?

Weak Credentials

This is one but of the simplest cause of a data breach. Do you know that 4 in 5 data breaches are caused by a weak or stolen password?

Possible Solutions:

  • Use complex passwords
  • Make use of passwords generator
  • Sign up for Password Managers
  • Strict access control for corporate credentials

Application Vulnerabilities

Weakly designed and developed applications serve as gateways to attack opportunities. That is because these loopholes are attractive to hackers. For instance, poorly written network systems.

Possible Solution:

Update software and hardware applications.

Malware

Malicious software by definition, both in direct and indirect forms. Moreover, malware attacks are one of the best attacks by hackers.

Successful malware launching opens access to almost anything on you. For instance, it can also connect with other computers and networks interconnected.

Possible Solution:

  • Be wary of opening suspicious websites
  • Also, be careful about opening any suspicious emails. For instance, the sender is unknown.
  • When opening emails, be careful of downloading or clicking on attachments.
  • Email security systems are now available. Most especially with corporate users.

Insider Attacks

More attacks are now coming from insiders too. For instance, it could be your innocent-looking employee. Or anyone who gains access from your entity itself. 

Possible Solutions:

  • Document any file transfer
  • There are software-as-a-solution (SaaS) that can serve you well with safety file transfers
  • Make use of biometrics or any security measures for access

Human Errors

This is where proper training should be implemented among all users. Because this is just too inevitable with humans.

Possible Solutions:

  • Connect with security platforms or professionals
  • Handle cybersecurity training and awareness for security practices

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