Major Equifax Breach Affecting 143 Million Consumers
In potentially one of the worst cyberattacks in history, credit monitoring and reporting service Equifax was breached. The result was millions of consumer records being stolen from May to July, including personal, financial and credit card information. Why is this any worse than other major hacks? As a credit reporting service, Equifax has access to all sensitive information required to take out loans, open credit cards, credit card numbers, and unlock other personal information – social security numbers, birthdates, addresses, etc. This was a one-stop-shop for the criminals to get the most useful information in a single attack.
Equifax has responded by offering free credit monitoring to everyone for one year (whether they were affected or not). We know no one reads the Terms & Conditions for anything anymore, but in this case, we recommend fully reading, understanding, and considering if this is the best action for you to take. A few highlights of the service are outlined in this CNN article.
You can read more about the details of what was stolen, the chain of security issues that plagued the company over the last couple years, how to be more watchful of your credit, and the potential fallout from this breach over the next several years on The New York Times or Ars Technica.
Cyber security continues to be one of the most important business topics. If you want to review your business's security practices feel free to reach out to us.
This breach affects around 50% of the adult US population - please share with your friends and family.