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2022-08-16 02:00:00 | The 12 biggest data breach fines, penalties, and settlements so far (lien direct) | Sizable fines assessed for data breaches since 2019 suggest that regulators are getting more serious about organizations that don't properly protect consumer data. Marriott was hit with a $124 million fine, later reduced, while Equifax agreed to pay a minimum of $575 million for its 2017 breach. Now, the Equifax fine has been eclipsed by the $1.19 billion fine levied against the Chinese firm Didi Global for violating that nation's data protection laws, and by the $877 million fine against Amazon last year for running afoul of the General Data Protection Regulation (GDPR) in Europe.To read this article in full, please click here | Data Breach | Equifax Equifax | |
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2022-06-14 02:00:00 | Vulnerability management mistakes CISOs still make (lien direct) | Multiple breaches, including the massive 2017 data breach at the credit reporting agency Equifax, have been traced back to unpatched vulnerabilities-a 2019 Tripwire study found that 27% of all breaches were caused by unpatched vulnerabilities, while a 2018 Ponemon study put the number at a jaw-dropping 60%.To read this article in full, please click here | Data Breach | Equifax | |
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2019-10-14 03:00:00 | Equifax data breach FAQ: What happened, who was affected, what was the impact? (lien direct) | In March 2017, personally identifying data of hundreds of millions of people was stolen from Equifax, one of the credit reporting agencies that assess the financial health of nearly everyone in the United States.As we'll see, the breach spawned a number of scandals and controversies: Equifax was criticized for everything ranging from their lax security posture to their bumbling response to the breach, and top executives were accused of corruption in the aftermath. And the question of who was behind the breach has serious implications for the global political landscape.How did the Equifax breach happen? Like plane crashes, major infosec disasters are typically the result of multiple failures. The Equifax breach investigation highlighted a number of security lapses that allowed attackers to enter supposedly secure systems and exfiltrate terabytes of data. | Data Breach | Equifax | |
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2019-08-05 03:00:00 | Looking for answers at Black Hat 2019: 5 important cybersecurity issues (lien direct) | Judging by last week's Capital One breach and Equifax settlement, cybersecurity remains a topical, if not ugly, subject. The timing couldn't be better for these unfortunate events. Why? Because the cybersecurity community gets together this week in Las Vegas for Black Hat and DEF CON to discuss how to better deal with security vulnerabilities and improve threat prevention, detection, and response. [ Keep up with 8 hot cyber security trends (and 4 going cold). Give your career a boost with top security certifications: Who they're for, what they cost, and which you need. | Sign up for CSO newsletters. ] I'll be there along with an assortment of my ESG colleagues. Here are some of the things we'll be looking for: | Threat | Equifax | |
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2019-07-31 05:55:00 | IDG Contributor Network: Is the cloud lulling us into security complacency? (lien direct) | The recent CapitalOne breach has certainly made lots of headlines in less than a day since the story broke out. And sadly, it has already thrust the $700M settlement that was reached from the largest ever data breach – the Equifax one – onto the sidelines just days after the news of that settlement broke out.But going back to CapitalOne, there are lots of lessons to be learned there certainly. I want to focus on where CapitalOne's data centers were and what that means for the rest of the planet from a security perspective. CapitalOne has been one of the most vocal AWS customers. They have appeared at numerous AWS events and touted how they have completely shuttered all their data centers and run exclusively on Amazon. And to be fair, they have also shared their best practices and use of AWS services. | Data Breach | Equifax | |
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2019-07-26 03:00:00 | The biggest data breach fines, penalties and settlements so far (lien direct) | Sizable fines assessed for data breaches in 2019 suggest that regulators are getting more serious about organizations that don't properly protect consumer data. In the UK British Airways was hit with a record $230 million penalty, followed shortly by a $124 million fine for Marriott, while in the US Equifax agreed to pay a minimum of $575 million for its 2017 breach. [ How much does a data breach cost? Here's where the money goes. | Get the latest from CSO by signing up for our newsletters. ] | Data Breach | Equifax | |
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2019-07-24 04:38:00 | Equifax\'s billion-dollar data breach disaster: Will it change executive attitudes toward security? (lien direct) | Equifax announced on Monday that it has agreed to a record-breaking settlement related to its massive 2017 data breach, which exposed the personal and financial records of more than 148 million people. The settlement requires the beleaguered credit ratings agency to spend at least $1.38 billion to resolve consumer claims against it. It creates a non-reversionary fund of $380.5 million to pay benefits to the class of consumers harmed by the breach, including cash compensation, credit monitoring, and help with identity restoration. [ How much does a data breach cost? Here's where the money goes. | Get the latest from CSO by signing up for our newsletters. ] | Data Breach | Equifax | |
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2019-01-07 06:05:00 | IDG Contributor Network: Managing identity and access management in uncertain times (lien direct) | If we remember one thing from 2018, it is that we are all victims now through one breach or another. Every day, we hear more news about another data breach affecting millions of users with significant financial and reputational consequences to its victims. With massive breaches like Equifax, Facebook, Deloitte, Quora and Yahoo, it is clear that breach notification services and multi-factor authentication (MFA) are not enough to prevent the next data breach headline from appearing in tomorrow's newspapers.Organizations have started thinking holistically, and rightly so, about risk and approaches to security using frameworks such as CARTA, Zero Trust, NIST SP 800 and IDSA. These frameworks offer progressive thinking and valuable approaches to modern identity strategy, but there is no one size fits all. These frameworks are akin to buying furniture from IKEA; assembly required, but with a lot more complexity and a lot more at stake. | Data Breach | Equifax Deloitte Yahoo | |
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2018-07-18 04:30:00 | IDG Contributor Network: N-dimensional behavioral biometrics: a viable solution for digital fraud? (lien direct) | Identity fraud is expected to reach an all-time high in 2018. Javelin Research Center reported a record 16.7 million consumers fell victim last year, in large part due to the massive Equifax breach which left millions of consumers' data exposed to would-be hackers. Now, hackers are using exposed credit and debit card numbers to steal from bank and loyalty accounts, shifting to digital attacks without ever needing a physical card in their hands. According to Javelin, card-not-present fraud (CNP) is 81 percent more likely than point-of-sale fraud (PoS). In 2017, more consumers had their cards misused in a CNP transaction than at the cash register. | Equifax | ||
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2018-06-18 03:00:00 | Does cyber insurance make us more (or less) secure? (lien direct) | If data is the new oil, then we're looking at pelicans soaked in crude on a beach.When an oil tanker goes down or an oil rig explodes, dumping millions of gallons of petroleum into the ocean, we clean up the spill, we look for first causes, and we hold the company - even individuals - responsible for the harm they've caused to a shared resource: the environment we all live in.[ Watch out for 7 common modeling mistakes | Get the latest from CSO by signing up for our newsletters. ] When a company like Equifax commits gross negligence for failing to secure our data, and a breach pumps 147.9 million records onto the internet, the company's directors keep their jobs, their cyber insurance policy pays out, and the company posts a profit. | Equifax APT 32 |
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