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HealthCare and Security: Medical Record Fraud Harder to Identify Than Credit Card Theft
Hacking medical health records can be big business. In 2013, 40 percent of healthcare organizations said that their computer systems had been hacked.
The $3 trillion US healthcare business often still relies on old computer systems with weak security protections.
Don Jackson, director of threat intelligence at PhishLabs, a cybercrime protection company, said that the information fund in medical health records can be sold on the black market for about $10 per record or more than ten times the black market price of stolen credit card information. The information is far more valuable than credit card information because fraudulent use of the information can go on for a long time before it is detected.
Healthcare records contains information like names, birth dates, policy numbers, diagnosis codes and billing information. With that data, a fake ID could be created and used to buy normally controlled drugs or medical equipment that can then be resold. Or it’s possible to create fraudulent healthcare claims.
Dave Kennedy, an expert on healthcare security and CEO of TrustedSEC LLC, said that “as attackers discover new methods to make money, the healthcare industry is becoming a much riper target because of the ability to sell large batches of personal data for profit. Hospitals have low security, so it’s relatively easy for these hackers to get a large amount of personal data for medical fraud.”
