Intel Security identifies extent of health data cybercrime
Intel Security has today released its McAfee Labs Health Warning report, which has identified the market for stolen data, and related hacking skills, in the health care sector is growing.
The report assesses the marketplace for stolen medical records, compares it with the marketplace for stolen financial services data; identifies health care focused cybercrime-as-a-service trends; and profiles cybercrime targeting intellectual property in the pharmaceutical and biotechnology industries.
Intel Security found the price of medical data is lower than financial data, however with the trend towards more medical data, both generated by healthcare providers and on a personal level, the demand for stolen data will likely increase. The report also points out that financial data, such as credit card details, can be replaced, whereas your medical data cannot.
In an industry in which the personal is paramount, the loss of trust could be catastrophic to its progress and prospects for success.
“In an industry in which the personal is paramount, the loss of trust could be catastrophic to its progress and prospects for success,” said Raj Samani, Intel Security’s CTO for Europe, the Middle East, and Africa. “Given the growing threat to the industry, breach costs ought to be evaluated in the Second Economy terms of time, money, and trust—where lost trust can inflict as much damage upon individuals and organisations as lost funds.”
Medical data is currently being sold for between $0.03 to $2.42, which is far less than financial accounts data, which can reach up to $25. However, biotechnology and pharmaceutical data are likely to bump up the costs of medical data, as intellectual property and business confidential information can hold much greater value than an individual’s health record.
“Corporate espionage has gone digital along with so many other things in our world,” Samani said. “When you consider that research and development is a tremendous expense for these industries, it should be no surprise that cybercriminals are attracted to the ROI of this category of health care data theft.”
The researchers also found cyber criminals attempting to recruit medical industry insiders, through online ads and social media, who have access to valuable information.
To find out more, read the full report here.