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Highlights
- Medibank has revealed that a ‘terrible’ cyber attack has affected all its 3.9 million customers.
- The company updated that the cyber criminal had access to the personal health claims data.
- The company’s share plunged over 16% after the statement was shared via ASX.
One of Australia’s biggest private health insuring firms, Medibank Private Limited (ASX:MPL), on Wednesday (26 October 2022), issued an updated statement regarding the recent data breach. As per the statement, the probe on the cybercrime is still on. The inquiry is centered on figuring out which systems and networks were accessed and what all information was deleted by the criminal.
The shares of the company, after the announcement, plunged to an 18-month low and were last quoted at AU$2.915 per share, down 16.833% at 3:27 PM AEDT on the ASX today.
Around the same time, the benchmark S&P/ASX 200 Financials sector (INDEXASX:XFJ) was quoted 0.044% or 2.8 points lower at 6421.9 points.
According to Medibank’s statement, the company has evidence that the criminal has removed as well as stolen some of its customers’ personal and health claims information and it is likely that the number of affected people might increase.
As per Medibank:
The company has come up with a support package for the impacted customers. This package, besides featuring free access to Medibank’s helplines, includes providing financial help to needy customers.
Update on FY23 outlook
The company had furnished its FY23 outlook in the FY22 financial results. After the incident of cybercrime, Medibank has updated the guidance.
It should be noted that the data breach, that is reported to compromise Medibank, ahm and international student data, can cost the health insurer around AU$35 million.
The company informed that it is working alongside federal government and Australian Federal Police on the matter.
