2310 GMT [Dow Jones] Anthem Inc. (ANTM) will pay $16 million in a settlement with federal regulators in connection with the massive data breach it disclosed in 2015, which affected the health information of nearly 79 million people. The Department of Health and Human Services said it was the largest such settlement ever. The department said its investigation had faulted the giant insurer for insufficient risk analysis, and added that the company "failed to identify and respond to suspected or known security incidents, and failed to implement adequate minimum access controls to prevent the cyber-attackers from accessing sensitive" health information. The hackers accessed the insurer's systems initially after at least one employer responded to a "spear phishing" email, the regulator said. Anthem said it was not aware of any fraud or identity theft stemming from the incident, and the agreement was not an "'admission, concession, or evidence' that Anthem acted improperly."(anna.mathews@wsj.com)

 

(END) Dow Jones Newswires

October 15, 2018 19:25 ET (23:25 GMT)

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