Medical records are valued at 20 to 50 times more than financial identities on the black market.Medical identity theft is on the rise. Medical records are a hot target for hackers because, according to the FBI, medical identities are valued at 20 to 50 times more than financial identities on the black market.Data breaches appear to be the leading cause of this growth, and the number of data breaches continues to grow. The number of healthcare organizations falling victim to data breaches reached an all-time high of nearly 400 reported breaches in 2016, according to the Identity Theft Resource Center.

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