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Prudential Financial Discloses a New Data Theft Attack

Shipra Sanganeria
Published by Shipra Sanganeria on Feb 14, 2024
Fact-checked by Justyn Newman
Fact-checked by Justyn Newman

Prudential Financial reported being victim to a cybersecurity incident that exposed its employee and contractor data.

The network breach incident is said to have occurred earlier this month, the Fortune 500 company said in a Form 8-K filing with the US Securities and Exchange Commission.

The insurance giant disclosed that the breach was detected on February 5, one day after an unknown threat actor gained access to some of its systems. Upon detection, Prudential. with assistance from external cybersecurity experts, immediately deployed cybersecurity measures to ‘’investigate, contain, and remediate’’ the breach.

‘’As of the date of this Report, we believe that the threat actor, who we suspect to be a cybercrime group, accessed Company administrative and user data from certain information technology systems and a small percentage of Company user accounts associated with employees and contractors,’’ Prudential revealed.

However, it did not disclose the total number of employees or contractors impacted by the incident. The leading global financial services provider currently employs approximately 40,000 people, worldwide.

The data breach incident has been reported to the relevant law enforcement and regulatory agencies, Prudential revealed in the filing. Moreover, it’s continuing with the investigation to analyze the full impact of the incident, including any potential compromise of additional data or systems.

Prudential also said that based on its ongoing investigation, it found no evidence of any customer or client data breach.

‘’As of the date of this Report, the incident has not had a material impact on the Company’s operations, and the Company has not determined the incident is reasonably likely to materially impact the Company’s financial condition or results of operations,’’ the filing revealed.

Known for its insurance, retirement planning, and other financial products and services, Prudential Financial is one of the leading financial services provider to customers in the US, Europe, Asia, and Latin America.

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