A Utah Department of Health server breach will likely result in up to $500 million in fraud and other damages to the victims. The victims will likely pay much more — $406 million in losses and $94 million in other costs. The bad guys are getting better at using the information obtained from breaches to commit fraud, an analyst says. The breach succeeded because a contractor had set the server up with an easily guessable password, Javelin Strategy & Research says. 80 percent of financial institutions continue to allow customers to identify themselves using their SSNs.”]
Source: https://www.darkreading.com/attacks-breaches/recent-breaches-more-likely-to-result-in-fraud