Study: Utah Health Breach Could Approach $406M

[InfoSec News <alerts () infosecnews org>]

http://www.insurancejournal.com/news/west/2013/05/01/290357.htm

Insurance Journal Online
May 1, 2013

A 2012 security breach that exposed the personal information of 780,000 
Utah residents to hackers could cost as much as $406 million, a new 
study finds.

The Salt Lake Tribune reported in the aftermath of the breach, the state 
already has spent about $9 million on security audits, upgrades and 
credit monitoring for victims.

Consumers will shoulder less than a quarter of the $406 million total 
loss, the research group predicts. The rest will hit retailers and banks 
coping with the fallout of fraud schemes set in motion by the breach.

The findings come from a consumer survey used to produce a yearly 
identity theft report. The firm inherited that task from the Federal 
Trade Commission.

[...]


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