In yet another example of how integrated and intwined most modern businesses have become, Allianz (a subsidiary of Allianz Life Insurance Company) was hacked using a vulnerability with its customer relationship management (CRM) system. Nearly 1.5 million customers were affected.

 

Allianz notified its customers in October that they uncovered a breach that happened in July in which hackers infiltrated its CRM system. CRMs, provided by third-party vendors, are incredibly valuable tools that help companies collect, store, and analyze customer data to tailor products, drive business development, and improve communication. Unfortunately, they are an absolute gold mine for hackers since they are full of extremely personal information including financial information and (in the case of insurance companies) potentially medical data as well.

 

Allianz noted that the files that were stolen by the cybercrime group Scattered Spider included customer names as well as their home address, date of birth, and Social Security numbers. Affected customers have been notified and provided with two years of free credit monitoring and identify theft restoration.