Lesson from Equifax penalty (at least $575M): Breach ‘entirely preventable’
By 
Jaclyn Jaeger2019-07-22T19:45:00
What resulted in the largest-ever breach of consumer data culminated in the largest data breach enforcement action in history.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
News BriefFCA fines Equifax’s U.K. unit $13.3M over 2017 data breach
The Financial Conduct Authority fined Equifax’s U.K. unit more than £11 million (U.S. $13.3 million) regarding the company’s 2017 data breach that affected approximately 13.8 million U.K. consumers.
-
ArticleEquifax indictment and the making of a Chinese cyber-attack
The DOJ announced four members of the Chinese military have been indicted on charges of hacking into the computer systems of Equifax, ultimately resulting in the largest-ever breach of consumer data. From an ERM standpoint, the indictment offers an inside look at the making of a Chinese cyber-attack.
-
ArticleEquifax must spend ‘a minimum of $1B’ for data security
A massive data breach that was “entirely preventable” will cost credit-reporting agency Equifax another $1 billion to beef up its cyber-security efforts.
More from Regulatory Enforcement
-
News BriefCFPB pullback signals further shift toward industry-friendly regulation
The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
-
News BriefTrump’s CFPB, dismissing Comerica case, continues to cut down Biden-era lawsuits
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.
-
News BriefCash App parent to pay $40 million for alleged BSA/AML violations in New York
Block Inc., maker of the popular Cash App, has been hit with a $40 million fine by New York for its alleged failure to report suspicious activity. The move marks the latest in a string of recent state and federal enforcement actions against the company.