Prudential Financial Confirms February 2024 Cyberattack Resulted in Data Breach Affecting Employees and Customers

Console and Associates, P.C.

On March 29, 2024, Prudential Financial filed a notice of data breach with the Attorney General of Montana after discovering that an unauthorized party was able to access sensitive information in the company’s possession. In this notice, Prudential Financial explains that the incident resulted in an unauthorized party being able to access consumers’ sensitive information. Upon completing its investigation, Prudential Financial began sending out data breach notification letters to all individuals whose information was affected by the recent data security incident.

If you received a data breach notification from Prudential Financial, it is essential you understand what is at risk and what you can do about it. A data breach lawyer can help you learn more about how to protect yourself from becoming a victim of fraud or identity theft, as well as discuss your legal options following the Prudential Financial data breach. For more information, please see our recent piece on the topic here.

What Caused the Prudential Financial Data Breach?

The Prudential Financial data breach was only recently announced, and more information is expected in the near future. However, Prudential Financial’s filing with the Attorney General of Montana provides some important information on what led up to the breach. Prudential Financial had previously filed notice with the SEC confirming a cybersecurity incident. However, this is the first time Prudential Financial confirmed that consumer information was involved.

According to these sources, on February 5, 2024, Prudential Financial identified suspicious activity within its computer network. In response, Prudential Financial secured its systems, notified law enforcement, and then launched an investigation with the help of third-party cybersecurity specialists.

Through this investigation, Prudential Financial confirmed that an unauthorized party had been able to access certain folders containing confidential information belonging to employees and customers on February 4, 2024. Prudential Financial was also able to determine that the unauthorized party removed some of this sensitive information.

After learning that sensitive consumer data was accessible to an unauthorized party, Prudential Financial reviewed the compromised files to determine what information was leaked and which consumers were impacted.

On March 29, 2024, Prudential Financial sent out data breach letters to anyone who was affected by the recent data security incident. While the publicly available Prudential Financial data breach letter does not mention the specific data types that were compromised, the personalized letters that were recently sent out should provide victims with a list of what information belonging to them was compromised.

More Information About Prudential

Prudential Financial, Inc. is a financial services company based in Newark, New Jersey. Prudential provides retail and institutional clients with a range of services, including insurance, retirement planning, investment management and more. Prudential manages approximately $1.377 trillion in assets as of December 31, 2022. Prudential Insurance employs more than 39,000 people and generates approximately $54 billion in annual revenue.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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