Hackers stole Social Security numbers from Allianz Life

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Earlier this month, US insurance giant Allianz Life experienced a serious data breach where hackers stole personal information belonging to most of its 1.4 million customers, along with financial professionals and some employees. 

The breach happened on July 16 but was only publicly confirmed later in the month. 

According to official reports filed with US states like Texas and Massachusetts, the stolen data includes highly sensitive details such as names, birth dates, mailing addresses, and, most concerning of all, Social Security numbers.

The hackers gained access through a method known as social engineering. This is not a technical hack, but rather a trick that involves manipulating people into giving up access. 

For example, a hacker might pretend to be an employee who forgot their password and convince a helpdesk to give them access to the system. 

Once inside, they were able to steal data from Allianz Life’s customer relationship database.

The company confirmed the breach to TechCrunch, but declined to reveal the full extent of the data stolen. 

Allianz Life stated they are fully aware of what information was taken but have chosen not to disclose those details publicly yet. 

They plan to start notifying the affected individuals by August 1. Each person will receive a letter explaining what kind of personal data was involved and how they may be affected.

This incident adds to a growing trend of cyberattacks targeting insurance companies. Other companies like Aflac and Erie have also been victims of similar attacks recently. 

Experts believe that hacking groups that specialize in social engineering are behind many of these incidents and are stepping up their activities.

For affected individuals, this kind of data breach is serious. Social Security numbers and other personal details can be used for identity theft and financial fraud. 

Allianz Life may offer support or credit monitoring to those affected, but the best course of action is for individuals to stay alert and watch for signs of misuse of their personal information.

Do you think companies holding sensitive data like Social Security numbers should face stricter penalties for breaches caused by social engineering? Or is this type of human-based attack too difficult for companies to completely prevent? Tell us below in the comments, or reach us via our Twitter or Facebook.