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What is the Real Cost of a Data Breach – Reflecting LabCorp Data Theft

Another Data breach incident between LabCorp, a medical testing company and American Medical Collection Agency (AMCA), shows the importance of security now a days.

Reports says that data on some 7.7 million consumers were exposed to this breach due to AMCA, a New York based company. They are not responding yet but if it could get you into some legal mess if not handled appropriately. Even if a couple of hackers are behind the scene and not the company itself committed the offence.

One cannot afford to sit back and relax if they happen to store financial and other such private data. Security is the key aspect for such vendors. A glimpse into the LapCorp case would be more insightful.

LabCorp has sent a filing to America’s Securities and Exchange Commission regarding the Leakage of its data. It was told that a 7.7 million patient’s information holding database which was outsourced to AMCA was attacked by hackers. It stored people’s first name, last name, dates of birth, addresses, phone numbers, and money paid or owed. Nearly 200,000 credit card entries or bank account information were taken away by the attackers.

The attack was reported to have happened between August 2018 and March 2019 when the hackers invaded into AMCA’s web payment portal. LabCorp has now stopped its business with AMCA after the occurrence of this incident.

The attacked system included information provided by LabCorp which would include first name, last name, date of birth , address, phone , date of service, provider, and balance information as told by LabCorp to the US securities watchdog. Other crucial data involved credit card or bank account information provided by the consumers to AMCA.

The only relieving news for the customers were that the leaked information did not contain any medical records or confidential medical data of its customers. LabCorp has notified its affected users that they would provide them with free credit monitoring and identity protection services for upto 2 years.

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