Sunday, December 11, 2011

Medical Records are Worth $50 Each on the Black Market

A single patient's medical record is worth $50 on the black market, according to a panel of cyber security specialists at the Digital Health Conference held on December 1st in New York city.

One reason for the high value is that a person cannot cancel their own medical history, where as they can always cancel a stolen credit card number. This makes it much harder to prevent stolen medical data from being used by criminals.
Medical record data is worth $50 on the black market. Much more than Social Security numbers ($3), credit card information ($1.50), date of birth ($3), or mother's maiden name ($6).
Stolen medical data -- such as electronic health records or insurance information -- is lucrative because thieves use it to submit false or inflated medical claims, buy prescription medication, or pay for treatment - all at the victim's expense.

The panel of experts pointed out that violations of patient privacy at healthcare and insurance companies are an increasing source of stolen medical data - this includes data lost or stolen by insiders such as healthcare or insurance workers.

The panelists explained how medical identity theft is detectable by analyzing activity in electronic health record applications and other clinical and financial computer systems.
Learn how to proactively detect identity theft and unauthorized breaches of data privacy, even by authorized users - with no hardware and no on-site software.
Sources:
(b) Digital Health Conference - Digital Health Conference, December 1-2, 2011
(a) DHC: EHR Data Target for Identity Thieves - MedPage Today - 12/07/2011


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