HomesecurityEquifax: 650 fine for million-dollar hacking for 2017

Equifax: 650 fine for million-dollar hacking for 2017

EquifaxEquifax is going to pay one huge fine (about 650 million dollars) for the incident of the breach data the 2017. The infringement had the effect of report 145 of millions of files, which belonged to customers of the company. The data displayed include names, addresses, driving license numbers, and social security numbers.

The incident occurred in September of 2017. The hackers they managed to acquire access on Equifax servers, using a known vulnerability, which helps steal data.

The New York Times published a report stating that Equifax (in its name) has made 690 million dollars to repair the damage, while spending hundreds of millions of dollars on improving its systems and providing free service to the affected customers as a compensation.

The research, which was done, concluded that leakage Equifax data affected customers in United Kingdom. The Office of the UK Commissioner for Information has stated that η company it did not take the appropriate measures to protect the data of its customers.

This specific violation was judged on the basis of the 1998 data protection law and not the GDPR, currently in force. This is because leakage took place at 2017, while the new privacy policy was implemented in the United Kingdom at 25 May 2018. The researchers they found that measures security of Equifax were inadequate and ineffective.

Elizabeth Denham, UK Commissioner for Information, said investigations are being made to detect stolen data. He also said that Equifax Ltd received the highest possible fine under the law of 1998. The amount was decided after the competent authorities had taken into account all the company's responsibilities. They took into account the number of victims, the type of data at risk, and the fact that the company did not adequately protect its customers.

In addition, researchers found that DHS had informed Equifax Inc. of its existence vulnerability, some months before the breach of systems, in March of 2017. However, the company did not make sure to remedy the vulnerability sufficiently so hackers managed to take advantage of it a few months later.

“Multinationals that handle data, such as Equifax, need to understand the importance of the personal data they hold, and take strong steps to protection their. Their councils must ensure that internal controls and controls systems they work effectively to meet the legal requirements and expectations of customers, ”Ms Denham added.

Other major companies, such as Marriott International and British Airways, were fined this month because of their inability to protect their customer data.

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