Faxes containing sensitive information often have disclaimers instructing recipients to either destroy the faxes or contact the sender in case they are sent to the wrong person. It is the responsibility of the recipient to destroy the faxes or follow any other instructions, Pescatore said.

Said Baxmeyer: "Our point of view is that it's ridiculous to be sharing information that is sensitive in nature, whether financial or medical, by the use of faxes," he said. "We want Prudential to realize that their technology is out of date, and they are not paying attention."