Equifax hit by data breach in US

 

Credit referencing agency, Equifax has announced (https://investor.equifax.com/news-and-events/news/2017/09-07-2017-213000628) that it has been hit by a data breach in its US operations when an authorised third party gained access to Equifax data on as many as 143 million Americans. Among the files accessed by hackers were personal data including: names, dates of birth, Social Security numbers, addresses, and in some cases Equifax states around 209,000 credit card numbers. 

 

Commenting on the breach, Bill Mann, CPO at Centrify (www.centrify.com) said, “Equifax’s stock declined 5% the day its breach became public.  This is directly in line with a recent Centrify commissioned Ponemon study (https://www.centrify.com/lp/ponemon-data-breach-brand-impact) that found this to be the historic average on Day One.  The long-term impact will likely be greater, as this breach impacts millions of consumers who trust Equifax with their most personal information, and trust is at the core of their business.  Based on its severity and the sheer numbers involved, a breach like this will displace consumer trust, and potentially wipe out additional value quickly. 

 

"Data breaches are a very real business with bottom line concerns. Today’s cybersecurity is not secure, as it’s far too easy for hackers to access corporate networks via exploits including excess privilege, password capturing, etc. In order to avoid financial and reputational ruin, organisations must rethink their approach to security.”

For Bill's full blog see https://blog.centrify.com/equifax-breach/