On September 7th, 2017, Equifax Inc. announced a cybersecurity incident affecting 2.5 million U.S. consumer's personal information and credit files. The company has since come out to offer free identity theft protection and credit file monitoring. Equifax Inc. (NYSE: EFX) is a global information solutions company that uses unique data, innovative analytics, technology, and industry enterprise to power organizations and individuals by transforming knowledge into insights that create informed business and personal decisions. Consumers full names, drivers license numbers, social security numbers, birth dates, addresses, and credit card numbers were exposed. This breach could have been avoided with the knowledge and experience of risk or crisis management teams.
Risk managers identify, assess, and prioritize risks to reduce, monitor, and control the likelihood and impact of an unexpected event. Crisis managers conduct the process to handle unexpected events harming an organization, stakeholders, or public. Equifax is to blame here. The company noted the hack starting in May, but did not disclose how or why hackers broke into accounts. Addressing the public immediately is most important when a breach occurs. Risk or crisis managers learn how to address the public as undergraduates. Strict terms and conditions for credit monitoring allowed Equifax to proceed. Penn State University offers a Security and Risk Analysis major that allows students to choose between Intelligence Analysis and CyberSecurity options. Students expand their knowledge of how to prepare and prevent breaches this impactful. Reference: https://www.equifaxsecurity2017.com/ Image: https://www.classaction.com/wp-content/uploads/sites/33/2017/09/Equifax_Blog_720x405.jpg
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