Prudential Financial Breached in a Cyberattack, Hackers Stole Sensitive Data

Written by Mitchell Langley

February 16, 2024

Prudential Financial Breached in a Cyberattack, Hackers Stole Sensitive Data

Prudential Financial recently experienced a network breach where unauthorized individuals gained access to employee and contractor data. The Prudential Financial breach affected the main systems however compromised systems were promptly secured within a day.

Prudential Financial is a prominent global financial services company, ranked in the Fortune 500 list. With approximately $1.4 trillion in assets under management, the company offers insurance, retirement planning, wealth management, and investment services to a customer base of over 50 million individuals across the United States, Asia, Europe, and Latin America.

As the second-largest life insurance company in the United States, Prudential Financial employs a workforce of 40,000 individuals worldwide. In 2023, the company reported revenues exceeding $50 billion.

Prudential Financial Breach Was Reported to the US SEC

The firm reported the Prudential breach in an 8-K form submitted to the U.S. Securities and Exchange Commission. The breach was detected on February 5, following unauthorized access to certain systems on February 4.

“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 said.

Prudential has promptly reported the Prudential data breach to law enforcement agencies and has informed all applicable regulatory authorities about the incident.

An investigation is currently underway to determine the extent and consequences of the Prudential data breach, including the possibility of unauthorized access to additional information or systems within the company’s network.

So far, there is no evidence to suggest that customer or client data has been compromised by the malicious actors.

“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 company said.

The personal information of over 320,000 Prudential customers whose data had been handled by third-party vendor Pension Benefit Information (PBI) was exposed in May 2023 after the Clop cybercrime gang breached PBI’s MOVEit Transfer file sharing platform.

“Our investigation determined that the following types of information related to you were present in the server at the time of the event: name, address, date of birth, phone number, and Social Security number,”

PBI said at the time.

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