Aflac says cyberattack breach could expose personal data of customers
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(NEW YORK) — A group of cybercriminals hacked into data systems at insurance company Aflac, possibly gaining access to sensitive information such as Social Security numbers and health reports, the company said on Friday.
Aflac, which boasts millions of customers, “identified suspicious activity” and “stopped the intrusion within hours,” the company said.
The company attributed the attack to a “sophisticated cybercrime group” but did not identify the organization.
The cyberattack marks the latest in a string of data breaches targeting insurance companies, including attacks earlier this month against Philadelphia Insurance Companies and Erie Insurance.
“This attack, like many insurance companies are currently experiencing, was caused by a sophisticated cybercrime group. This was part of a cybercrime campaign against the insurance industry,” Aflac said in a statement. The company has opened an investigation into the cyberattack, saying initial findings indicate the cybercriminals deployed “social engineering tactics” or measures that rely on manipulation to gain network access.
Information tied to customers’ insurance claims and personal data may also have been breached in the cyberattack, Aflac said.
“We regret that this incident occurred,” Aflac said. “We will be working to keep our stakeholders informed as we learn more and continue investigating the incident.”
Aflac generated nearly $19 billion in revenue last year, which marked a 1.2% increase over the previous year, according to an earnings release.
(NEW YORK) — The S&P 500 hit an all-time record high on Friday, extending breakneck gains achieved in recent weeks as investors shrugged off concerns about newly imposed tariffs and war in the Middle East.
The S&P 500 climbed 0.3%, clocking in for the first time ever at 6,156.
Over the past month — even as U.S.-China trade tensions resurfaced and conflict grew in the Middle East — the S&P 500 climbed more than 5%.
In all, the S&P 500 has soared more than 20% since an April low in the wake of President Donald Trump’s “Liberation Day” tariff announcement. Over that period, the tech-heavy Nasdaq has climbed 28%, while the Dow Jones Industrial Average has jumped 12%.
Concern among investors about topsy-turvy economic policy has given way to cautious optimism about a dialed-back tariff posture and continued economic growth, some analysts previously told ABC News.
In recent weeks, Trump has rolled back some of his steepest levies, easing costs imposed upon companies and alleviating concern about a sharp surge of inflation.
A trade agreement last month between the U.S. and China slashed tit-for-tat tariffs between the world’s two largest economies and triggered a surge in the stock market. Within days, Wall Street firms softened their forecasts of a downturn.
The downshift of tariffs has coincided with data demonstrating a healthy economy.
Fresh inflation data earlier this month showed a slight acceleration of price increases, but inflation remains near its lowest level since 2021. Hiring slowed but remained sturdy in May as the uncertainty surrounding on-again, off-again tariffs appeared to curtail hiring less than some economists feared, a government report this month showed.
The outbreak of tit-for-tat strikes between Iran and Israel earlier this month sent stocks falling and hiked oil prices. Those challenges proved short-lived, however, as stocks resumed their gains and oil prices eased amid a ceasefire.
(WASHINGTON) — President Donald Trump announced a trade agreement with Japan on Tuesday, making it the largest U.S. trade partner to broker an accord as the White House threatens to impose tariffs on dozens of countries within days.
Before the deal, Japan faced the prospect of a 25% tariff rate set to take effect Aug. 1. Instead, products from the fifth-largest U.S. trade partner will be slapped with a 15% tariff, in exchange for a willingness on the part of Japan to import some goods, among other concessions.
In a post on social media late Tuesday, Trump touted the agreement as a “massive deal.” The White House has yet to release full details of the agreement.
Japanese Prime Minister Shigeru Ishiba also celebrated the accord. “With the national interests of both countries in mind, we were able to reach an agreement at this time,” Ishiba said.
Japan’s Nikkei index surged 3.5% on Wednesday, while major U.S. indexes nudged slightly higher in early trading.
Here’s what to know about what’s in the trade agreement and what comes next:
What’s in the U.S. trade agreement with Japan? The trade agreement lowers the tariff rate on Japanese products to 15%, putting it below the threatened rate of 25% but higher than a universal rate of 10% faced by nearly all imports.
Even more, the U.S. agreed to set a 15% tariff on Japanese cars, putting it below the 25% tariff rate placed on imported vehicles from other nations.
Japan purchased nearly $80 billion worth of U.S. products in 2024, while the U.S. bought about $148 billion worth of Japanese goods, according to the Office of the U.S. Trade Representative, a government agency.
Cars and auto parts accounted for about $52 billion worth of imported Japanese products, making up more than one-third of products purchased by the U.S., government data shows. Shares of Japan-based Toyota soared more than 13% on Wednesday, while Honda jumped about 12%.
In exchange for the softening of U.S. tariffs, Japan agreed to open its economy to imports of trucks, rice and other agricultural goods, Trump said.
Japan also agreed to invest $550 billion in the U.S. economy, Trump added, but the president did not specify how the funds would be spent.
How many trade agreements has the White House achieved so far? When Trump delayed the onset of so-called “reciprocal tariffs” in April, the White House vowed to strike 90 trade agreements in 90 days. Before that deadline elapsed, Trump proposed a flurry of similar country-specific tariffs with a new effect date of Aug. 1.
So far, Trump has brokered agreements with the United Kingdom, Indonesia, Vietnam, the Philippines and Japan. The White House also reached a preliminary accord with China that lowered tit-for-tat tariffs previously imposed by the world’s two largest economies.
For his part, the president has insisted that the on-again, off-again levies make up a key part of his negotiation strategy.
“The president and his trade team want to cut the best deals for the American people and the American worker,” White House press secretary Karoline Leavitt said last month when she announced the Aug. 1 deadline.
Price hikes could hit coffee, shoes, appliances and a range of other products if additional tariffs take effect on Aug. 1, analysts previously told ABC News.
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(LONDON) — The Nintendo Switch 2 is off to a turbo-charged start, thanks to a little help from Mario and his friends in Mario Kart World, smashing its own sales record by becoming the fastest selling Nintendo game system ever with more than 3.5 million units sold in just four days.
Nintendo sold an estimated 2.7 million units of the original Nintendo Switch in its first month when it launched in March 2017, but have now managed to move over 3.5 million units in just 96 hours, an almost 30% increase in sales in a much shorter period, the company said.
The Japanese company released the latest sales numbers on Wednesday and are aiming to sell 15 million units by March next year, putting them on track to meet or exceed expectations in the coming weeks and months. “Fans around the world are showing their enthusiasm for Nintendo Switch 2 as an upgraded way to play at home and on the go,” said Nintendo of America President and Chief Operating Officer Doug Bowser. “We are thankful for their response and happy to see the fun they are already having with Nintendo Switch 2 as they explore new features and games that bring friends and family together in new ways.”
The Nintendo Switch 2 is the next generation console for the company, its first new system release in eight years, and features a larger screen capable of full 1080p high-definition display, a faster processor that allows for enhanced graphics and performance, as well as redesigned magnetic Joy-Con 2 controllers with mouse functionality, Nintendo said. The system also debuts the new GameChat2 feature where players can voice or video chat and share game screens with friends online.
“You’ll probably see a first batch of people who can’t live without it,” van Dreunen said. “If you’re a die-hard [Switch] fan, it’s like standing in line for the new Harry Potter book or movie,” Joost van Dreunen, a professor at New York University’s Stern School of Business and writer of the SuperJoost Playlist, a games industry-focused newsletter, told ABC News last week.
“Nintendo is making a carefully calculated bet with the Switch 2 that will pay off,” van Dreunen continued. “While some might have hoped for a more revolutionary device, Nintendo’s evolutionary approach shows deep market understanding … The console’s focus on accessible and social gaming — rather than competing with Microsoft and Sony on technical specs — underscores Nintendo’s commitment to shared experiences for all ages.”
The Nintendo Switch 2 system launched alongside the first brand new Mario Kart game in 11 years called Mario Kart World, featuring an interconnected world where you can drive virtually anywhere with dynamic weather conditions, new game modes and up to 24 drivers at once — the most in the 33-year-old series history.
Nintendo is hoping to build a base, as well as excitement for its new system, ahead of next month’s launch of a new 3D platforming game starring Donkey Kong called Donkey Kong Bananza, which Nintendo says will let players “unleash their inner Kong as they smash and bash their way through a wild, mayhem-packed action adventure.”
After its global launch last Thursday, Nintendo Switch 2 is now available for the retail price of $449.99, and is also available as a bundle with a digital download of “Mario Kart World” for $499.99.
