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Something weird is going on at Equifax

Bill Coffin | September 11, 2017

On July 29, the Atlanta-based credit monitoring agency Equifax experienced a data breach that had exposed the personally identifiable information of some 143 million consumers mostly in the United States (but also Canada and the United Kingdom). Hackers potentially gained access to names, Social Security numbers, birth dates, addresses, and even some driver’s license numbers. Equifax immediately engaged a cyber-security firm to address the data vulnerability, and alerted law enforcement, but the company waited almost two months before telling the public on September 7. Not surprisingly, Equifax’s stock price dove nearly 14 percent in a single day, against what had been a 20 percent year-over-year climb. Not something that would destroy the company, for sure, but still a nasty wound for investors no matter one approached it.

The Equifax breach is hardly the largest in history, but it could prove especially costly because of... To get the full story, subscribe now.