HDFC Life Faces Data Breach As 'Unknown Source' Shares Customer Data With 'Mala Fide Intent'; Investigation Underway

HDFC Life Insurance has reported a potential data theft incident, raising concerns about the security of customer information. The company revealed the breach in a filing with the Bombay Stock Exchange (BSE) on Monday, November 25.

Alert Raised by Unknown Source

The insurance provider stated that it was informed of the breach by an unknown source, who maliciously shared some customer data fields with the company.

In the filing, HDFC Life wrote, "We wish to inform that we have received communication from an unknown source, who has shared certain data fields of our customers with us, with mala fide intent."

Immediate Action Taken

In response to the alert, HDFC Life initiated an information security assessment and data log analysis to understand the breach’s extent. The company is working with information security experts to conduct a detailed investigation.

"We value the data privacy of our customers and as an immediate measure, we have initiated an information security assessment and data log analysis," the company added in the regulatory filing.

The company further emphasising its commitment to safeguarding customer interests, in the exchange filing said "We will take utmost care to handle concerns of our customers and take actions to safeguard their interest

Market Performance

HDFC Life’s shares on Monday closed at Rs 688.90 per share, a modest gain of 0.10 per cent. During the intraday session, the shares reached a high of Rs 695.80 on NSE.

The market capitalisation of the company stood at Rs 1.48 lakh crore, with its 52-week high recorded at Rs 761.20 per share.