Equifax Security Breach
Breaking news this morning revealed yet another case of cybercrime- this time amounting to one of the biggest data breaches in US history. About 143 million customers were affected by the breach, which included compromised credit card and social security numbers, birth dates and drivers licenses. Equifax is a credit reporting agency and is trusted with all sorts of customer’s sensitive information. Since the data breach, Equifax stock dropped more than 8% per share, exemplifying just how crippling one of these events can be to a business.
Equifax has set up a website that allows customers to determine whether their data was compromised, and is also offering free credit-monitoring and identity-theft protection to customers. If you are an Equifax customer, we recommend visiting the page here: https://www.equifaxsecurity2017.com/
Upon investigation, Equifax realized that there was unauthorized access to private databases between mid-May through July. That means hackers could have spent two months poking around in Equifax’s customer databases! It is especially worrisome that Equifax is in the financial services industry- an industry that is trusted with a myriad of customer’s personal information. Hopefully, this is a wakeup call to other organizations in the industry to severely ramp up their security strategies.
Equifax could have prevented this data breach. Had they employed next-generation antivirus solutions like Cylance from SIM2K, they would have had much more ability to recognize new and emerging threats on their network. Cybersecurity in this industry is clearly behind the curve of hackers. This should be a serious indicator that, especially when it comes to our personal information, companies need to be taking every step possible to protect their data.
Learn more about this data breach by reading the article posted on our Facebook Page.