By now, we all know that Equifax Inc. is a consumer credit reporting agency that collects and aggregates information on over 800 million individual consumers and more than 88 million businesses worldwide.
But did you know …
Equifax Suffered a Hack Almost Five Months Earlier Than the Date It Disclosed
The power and force of this breach wields will be staggering. Let’s count the losses, in no particular order:
- People lose their jobs in the sacrificial lamb shell game
- Customers lose trust
- Shareholders flee for the exits and the stock price plummets
- Regulators from the U.S. (FTC) and states (40 A.G.’s so far) take aim – fines and penalties to follow, and maybe Federal legislation
- Reputation shredded
Equifax says that it maintains data on more than 820 million consumers and more than 91 million businesses worldwide.
QUERY – will we find out (yet again) that the number of records exposed is always MORE than first disclosed?
Are you a betting soul?
ONE MORE THING, will all Cyber Security firms learn from this debacle and assume they are under constant attack and therefore must do MUCH more than the average company to protect and defend PII?
And please: Be careful out there, Because #RiskcanRuin!!!
Kevin Keane, Attorney-at-law