Swedish insurance company Folksa data breach, nearly a million customer information into social media


On November 3, local time, Folksa, Sweden’s largest insurance company, confirmed that the personal information of nearly 1 million customers had been leaked to social media such as Facebook and Google. Folksam has apologised and has asked the company to delete the information.

According to Jens Wikström, head of marketing and sales at Folksam, the company discovered a data breach after an internal audit that included sensitive personal data such as individual social security account numbers. Immediately thereafter, Folksam reported the incident to the Swedish Data Protection Authority.

“The companies that receive personal data from Folksam are Facebook, Google, Microsoft, Linkedin and Adobe,” Wikström said. These companies can analyze the login information of folksam’s customers and other visitors, and then use the results of the analysis of the leaked data to communicate to customers Customized products are available.

“We knew this would be a cause for concern to our customers and we took what happened seriously. We stopped sharing personal information immediately and asked for it to be deleted,” said Folksam’s head of marketing and sales. Offer a bespoke offer, but unfortunately, we didn’t do it the right way.”

Immediately after the discovery of the breach, Folksam stopped sharing sensitive information with its digital partners and asked the companies that received the information to delete it.

At this time, there is no information that this information has been used by third parties in any inappropriate way.

Folksam is one of Sweden’s largest asset managers, overseeing $50 billion in insurance assets, according to Bloomberg.

Data leakage occurs frequently, mainly through external leakage and internal leakage. Amazon recently fired employees who violated company policy for leaking customer data, including email addresses, to unaffiliated third parties. What caused the massive leakage of domestic customer data that Folksam encountered this time?

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