Aflac Discloses Cybersecurity Incident May Have Compromised Sensitive Customer Data

Insurer Aflac (AFL) disclosed on Friday that a cybersecurity incident may have compromised the data of some of its customers. Still, its stock remained 0.8% higher during midday trade following the news.

Aflac’s shares have fallen 0.2% so far this year but gained more than 16% in the last 12 months. Retail sentiment also seemed unfettered on Stocktwits, continuing to trend in ‘bullish’ territory over the past 24 hours.

The health and life insurance provider said that it had identified “suspicious activity” on its U.S. network on June 12, for which cyber incident response protocols were initiated and were able to stop the intrusion within hours.

According to the company, the incident has not impacted its business operations, and its systems remain unaffected by ransomware. “This was a part of a cybercrime campaign against the insurance industry,” Aflac said in a statement.

Earlier this month, Erie Insurance (ERIE) experienced a network outage and an information security incident. Philadelphia Insurance Companies, a U.S. subsidiary of Japan’s Tokio Marine, also discovered unauthorized access to its network on June 9. 

Aflac added that it has engaged external cybersecurity experts to support the company’s internal response. It disclosed that, while the investigation is still in its early stages, preliminary findings show that the attacker used social engineering tactics to gain access.

As a precaution, the company is reviewing any files that may have been impacted, which include claims information, health information, social security numbers, and other sensitive personal details.

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