Conduent Incorporated announced that the January 2025 cyber event resulted in unauthorized access and exfiltration of personal information, impacting a 'significant' number of people. The company incurred a material amount of non-recurring expenses during the first quarter of 2025 related to potential notification requirements stemming from this incident.
While the company had previously confirmed the operational containment of the cyber event and system restoration, this update provides more specific details on the scope of the impact. The material expenses and the large number of affected individuals highlight the ongoing financial and reputational risks associated with the breach.
Conduent maintains cyber insurance, but the potential for future litigation, reputational harm, and regulatory actions remains a key risk. The company is continuing its analysis of the exfiltrated data and the process of client notification, indicating that the full implications are still unfolding.
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