Jackson National Life Insurance is Another Major Company Hit by MOVEit Data Breaches
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- By Steven
- Published: Jul 04, 2023
- Last Updated: Jul 05, 2023
Jackson National Life Insurance is based in Lansing, Michigan, and was founded in 1961. This insurance and annuities company offers retail brokerage services and offers asset management services to its customers. Nearly 3,000 people are employed by the company, and it has an annual revenue of $14.4 billion. This large-scale insurance company is just one of the many recent organizations to be hurt by the MOVEit file transfer service breaches. Customer data may be at risk because of these recent attacks.
How Did the Attack Occur?
Jackson National Life Insurance was breached by way of its third-party research service PBI Research Services. PBI was impacted by the MOVEit file transfer service breach that has been plaguing dozens of other companies from around the world. The company likely had its file storage databases compromised in the breach, and it's likely that huge amounts of customer information were taken. Patches have been released for the file transfer solution since the Zero-Day vulnerability was discovered, but companies have been slow to update the tool and are still being hit by cyber-attacks.
What Information Was Viewed or Stolen?
We don't know the specific data stolen from the Jackson National Life Insurance company, but we suspect it was personal and health information from customers. This would include things like medical history, Social Security Number, full name, date of birth, home address, insurance information, and more. If data like this were taken, customers could be at serious risk for identity theft and ongoing problems. The best way to protect yourself is to begin monitoring your credit and any relevant accounts closely so you're ready to react if anything odd changes.
How Did Jackson National Admit to the Breach?
Jackson National filed Form 8-K with the SEC stating it had been impacted by a third-party data breach. The statement explains that between 700,000 and 800,000 Jackson customers could be affected by the breach overall. We don't believe an official statement has been released by Jackson National or PBI Research Services, but if personal information was involved, it's likely that personalized statements will go out to everyone involved in the attack.
What Will Become of the Stolen Information?
It's likely that Jackson National has already been issued a ransom notice demanding a specific amount of money to prevent the information from being listed online and given away or sold. We can't verify whether that's the case or not. Either way, the data will likely be given away, misused for identity theft, and potentially sold to other hackers. If your data is involved, you are at risk of having your identity stolen and misused in different ways.
What Should Affected Parties Do in the Aftermath of the Breach?
If you receive a statement from either Jackson National or PBI Research Services, you should make use of credit monitoring and identity theft protection services to watch what happens with your information and what changes occur to your credit. These services can help you protect yourself against the most common issues that could occur from this attack.
