UK Regulator Fines Equifax £500,000 Over 2017 Data Breach
![cyber security](/rails/active_storage/representations/redirect/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBeFI3RGc9PSIsImV4cCI6bnVsbCwicHVyIjoiYmxvYl9pZCJ9fQ==--fca0e6bcf972c7a39288b0586dcc3124a403d8c9/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJYW5CbkJqb0dSVlE2QzNKbGMybDZaVWtpRFRjMU1IZzBOVEJlQmpzR1ZBPT0iLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--9a8cb233bbd899661209fac1218cb930366c2398/pound_414418_1920.jpg)
Atlanta-based consumer credit reporting agency Equifax has been issued a £500,000 fine by the UK's privacy watchdog for its last year's massive data breach that exposed personal and financial data of hundreds of millions of its customers.
Yes, £500,000—that's the maximum fine allowed by the UK's Data Protection Act 1998, though the penalty is apparently a small figure for a $16 billion company.
In July this year, the UK's data protection watchdog issued the maximum allowed fine of £500,000 on Facebook over the Cambridge Analytica scandal, saying the social media giant Facebook failed to prevent its citizens' data from falling into the wrong hands
Why U.K. Has Fined a US Company?
The UK's Information Commissioner's Office (ICO), who launched a joint investigation into the breach with the Financial Conduct Authority, has now issued its largest possible monetary penalty under the country's Data Protection Act for the massive data breach—£500,000, which equals to around $665,000.
The ICO said that although the cyber attack compromised Equifax systems in the United States, the company "failed to take appropriate steps" to protect the personal information of its 15 million UK customers.
The ICO investigation revealed "multiple failures" at the company like keeping users' personal information longer than necessary, which resulted in:
19,993 UK customers had their names, dates of birth, telephone numbers and driving license numbers exposed.
637,430 UK customers had their names, dates of birth and telephone numbers exposed.
Up to 15 million UK customers had names and dates of birth exposed.
Some 27,000 Britishers also had their Equifax account email addresses swiped.
15,000 UK customers also had their names, dates of birth, addresses, account usernames and plaintext passwords, account recovery secret questions, and answers, obscured credit card numbers, and spending amounts stolen by hackers.
Breach Was Result of Multiple Failures at Equifax
The ICO said that Equifax had also been warned about a critical Apache Struts 2 vulnerability in its systems by the United States Department of Homeland Security (DHS) in March 2017, but the company did not take appropriate steps to fix the issue.
Initially, it was also reported that the company kept news of the breach hidden for a month after its internal discovery, giving three senior executives at Equifax time to sell almost $2 million worth of its shares, though the company denied such claims.
Since the data breach happened before the EU's General Data Protection Regulation (GDPR) took effect in May 2018, the maximum fine of £500,000 imposed under the UK's old Data Protection Act 1998 is still lesser.
The penalty could have been much larger had it fallen under GDPR, wherein a company could face a maximum fine of 20 million euros or 4 percent of its annual global revenue, whichever is higher, for such a privacy breach.
In response to the ICO’s penalty, Equifax said that the company has fully cooperated with the ICO throughout the investigation that it is "disappointed in the findings and the penalty."
Equifax received the Monetary Penalty Notice from the ICO on Wednesday and can appeal the penalty.
Source thehackernews
Industry: cyber security news
![Banner Default Image](https://www.dclsearch.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBBdytMRGc9PSIsImV4cCI6bnVsbCwicHVyIjoiYmxvYl9pZCJ9fQ==--683221fba4088f48e5f9c99e2719b73064c09cee/banner-default.jpg)
Latest Jobs
-
- Network & Security Consultant
- Spain
- Upto €54000 per year and benefits
-
Senior Network & Security Engineer to join a Managed Network & Security Team in Europe. In this critical role, you will: Play a pivotal role in managing and securing network infrastructure across datacenters, customer connections, and on-premise deployments. Proactively monitor network and security devices, analyse incidents, and implement solutions to ensure optimal performance and security. Collaborate with colleagues and customers to troubleshoot issues, troubleshoot outages, and implement effective resolutions. Lead and participate in network system installations for new facilities and expansions. Develop and maintain network infrastructure procedures, recommend technical strategies, and propose improvements to enhance network capabilities. Stay up-to-date on the latest network and security technologies and trends. Work as part of a collaborative international team, contributing to team presentations and knowledge sharing. To be successful, you'll need: Proven expertise in Cisco network solutions (CCNP R&S/Sec/Wireless preferred)for both BAU and project work. In-depth knowledge of network security principles and experience with Fortinet firewalls. Experience deploying and managing large, complex network infrastructure (routing, switching, wireless, security). Solid understanding of ITIL v3 framework for incident, change, and problem management. Excellent troubleshooting skills with experience using Wireshark or similar protocol analysers. Strong communication and teamwork skills, with the ability to work independently and collaborate effectively.
-
- Security Analyst - Internal role. London commutable. £50,000
- London
- £50,000
-
Security Analyst - Internal role. London commutable opportunity. Operational Security - Investigate, escalate and proactively work to ensure household name remains protected. Project Security - Coordinate, log change requests with project delivery teams to meet security requirements Policy / compliance - work with team to aid in uplifting these as and where needed This role is role to investigate, escalate and proactively work to protect a globally recognised brand. You must have current hands on operational analytical security experience with Microsoft technology stack Someone with a SOC Analyst / security engineering background would be well suited. This position will join a small team and would suit someone that has broad experience across the security threat landscape. Experience / knowledge across industry GRC standards such NIST, ISO27001 etc would be advantageous. You will work across multiple teams proactively working to secure the business. Must be able to commute to Central London 3 days a week. Visa sponsorship not available Apply today to find out more.
-
- Network & Security Consultant
- Romania
- €54000 plus benefits
-
Senior Network & Security Engineer to join a Managed Network & Security Team in Europe. In this critical role, you will: Play a pivotal role in managing and securing network infrastructure across datacenters, customer connections, and on-premise deployments. Proactively monitor network and security devices, analyse incidents, and implement solutions to ensure optimal performance and security. Collaborate with colleagues and customers to troubleshoot issues, troubleshoot outages, and implement effective resolutions. Lead and participate in network system installations for new facilities and expansions. Develop and maintain network infrastructure procedures, recommend technical strategies, and propose improvements to enhance network capabilities. Stay up-to-date on the latest network and security technologies and trends. Work as part of a collaborative international team, contributing to team presentations and knowledge sharing. To be successful, you'll need: Proven expertise in Cisco network solutions (CCNP R&S/Sec/Wireless preferred) for both BAU and project work. In-depth knowledge of network security principles and experience with Fortinet firewalls. Experience deploying and managing large, complex network infrastructure (routing, switching, wireless, security). Solid understanding of ITIL v3 framework for incident, change, and problem management. Excellent troubleshooting skills with experience using Wireshark or similar protocol analysers. Strong communication and teamwork skills, with the ability to work independently and collaborate effectively.
-
- Network & Security Consultant
- Hungary
- Upto €54000 per year and benefits
-
Senior Network & Security Engineer to join a Managed Network & Security Team in Europe. In this critical role, you will: Play a pivotal role in managing and securing network infrastructure across datacenters, customer connections, and on-premise deployments. Proactively monitor network and security devices, analyse incidents, and implement solutions to ensure optimal performance and security. Collaborate with colleagues and customers to troubleshoot issues, troubleshoot outages, and implement effective resolutions. Lead and participate in network system installations for new facilities and expansions. Develop and maintain network infrastructure procedures, recommend technical strategies, and propose improvements to enhance network capabilities. Stay up-to-date on the latest network and security technologies and trends. Work as part of a collaborative international team, contributing to team presentations and knowledge sharing. To be successful, you'll need: Proven expertise in Cisco network solutions (CCNP R&S/Sec/Wireless preferred) for both BAU and project work. In-depth knowledge of network security principles and experience with Fortinet firewalls. Experience deploying and managing large, complex network infrastructure (routing, switching, wireless, security). Solid understanding of ITIL v3 framework for incident, change, and problem management. Excellent troubleshooting skills with experience using Wireshark or similar protocol analysers. Strong communication and teamwork skills, with the ability to work independently and collaborate effectively.