[ISN] Study: Utah Health Breach Could Approach $406M

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. […] ______________________________________________ Visit the InfoSec News Security Bookstore Best Selling Security Books and More! http://www.shopinfosecnews.org