UK Regulator Fines Equifax £500,000 Over 2017 Data Breach
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.
Industry: cyber security news
- Head of CSOC (Cyber Security Operations Centre), London. Greenfield opportunity
CH7928 Identifier Project Head of CSOC (Cyber Security Operations Centre), London. Greenfield UNIQUE opportunity to establish, manage and grow a world class CSOC. Headquartered in the UK, the CSOC will grow and deliver cyber services into an international and underdeveloped market. As a greenfield site the Head of CSOC will be the first person on the ground to build a capability and team around them. The role will include, but not be limited to; Setting up and establishing a CSOC monitoring service using IBM QRadar and Palo Alto CORTEX XSOAR. Develop roadmap for future CSOC capabilities. Establish, develop processes, playbooks and use cases. Recruit, Build and train a specialist team. Build relationships with key clients- onboard and scale. The successful candidate must have experience working within / leading a technical Cyber Security monitoring capability. Technical experience working with IBM QRadar and Palo Alto CORTEX XSOAR will be highly beneficial, although other SIEM / Security Orchestration, Automation and Response tools are welcome as the skillset is transferable. This brings significant opportunity and welcomes creativity / best practice. Frequent travel to London office will be required. Chris.email@example.com 07884666351
- Aruba Data Centre Network Engineer
- Upto £500 a day
**Outside of IR35 contract** Aruba Data Centre Network engineer is required to start ASAP. You will be responsible for Data Center and Campus Network - Design and implementation of Aruba CX Switches, We are looking for an experienced data centre engineer who is happy to work remotely and autonomously Experience you will need to have, Solid Networking experience with good knowledge of -Routing & Switching - MP-BGP EVPN VXLAN, MPLS/VPLS, EIGRP, BGP, OSPF and Multicast, Experience with Aruba switches ideally the CX range Ideally SC cleared or able to become SC Cleared. This will be a 3 month rolling contract
- Network Engineer-
- 65000 plus bonus
An exciting opportunity has arisen with a global financal business that are looking for an experienced Network engineer with strong Firewall experience in particular Checkpoint You will be responsible for help to support and manage the network infrastructure both LAN/ WAN And VPNs and will have a focus on network secuirty (Checkpoint firewall and Security controls) This is a multi-Site environment with few thousand end users, As the business is growing so is the network so great opportunity to join an expanding business that will help cross-train you in both cloud and onsite solutions. They are looking for a strong network engineer with a mix of expereience o Experience with Azure networking managing VNETs, ExpressRoute, VPNs and other Azure network features such as NSG/MS loadbalancer is required. Working with Check Point firewalls in Azure is desirable. o In-Depth understanding of networking fundamentals including: Network topology, Data Centre Infrastructure systems, Layer 2/Layer 3 Switching, VLANs, Routing, VPNs, High availability protocols. o Demonstrable hands-on experience with Meraki Switches and wireless infrastructure, Arista software, Forcepoint Proxy (would be a strongly desirable), Citrix Netscaler, and Forescout CounterACT Location can be flexible, they are looking for someone who would be happy to do a hybrid working model 3 days at home 2 days in the office.
- Technical Cyber Trainer, United Kingdom
Technical Cyber Trainer, United Kingdom Cyber trainer needed to build a new cyber training capability to develop a team of international security analysts. Technical Cyber training experience is a MUST. Any experience delivering technical Blue team based training is highly desired. This is a UK based role. Able to travel to London on occasion- when required. Agile, flexible working. A technical background is highly desirable and prefered. The role Aid in the setup, fine tuning and on-going customisation of Technical Cyber Security’s training platform. CyberBit experience desirable. Design, develop and deliver the internal syllabus to train employees with low cybersecurity knowledge to become analysts. Manage, monitor, support and assess learners. Fine tuning training and bespoke development. Manage, monitor and assess SOC analysts. Support employees through their career. The ability to deliver remote training is essential. This is a UK based role. Able to travel to London on occasion- when required. Agile working. Apply today to find out more information. Chris.Holt@dclsearch.com +447884666351