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
- Director of Sales Engineering
- Up to €110,000 plus bonus and benefits
Location: Paris Salary Upto €110,000 plus bonus and benefits Reference: RA 7382 Director of Sales Engineering This rapidly expanding Cloud Service company are looking for an experience Director of Sale Engineering (Pre sales), to help them expand both their customer base and also their sales engineering team, You will be responsible for managing a team spread across Europe, (France, Germany and UK currently 6) Your responsibilities will include : Organising and monitoring your pre-sales team activity in coordination with your management. Building and managing a pan European team. Making sure your team members are on track with company or individual KPIs. Managing your own set of customer/proposal Coordinating closely with Sales – you will work alongside Account Managers, serving as a technical lead for more standard solutions development. Assigning required resources to the Complex Solution team when required by your management. Working closely with the engineering and product teams to provide customer and market feedback Participating in the planning and execution of various partners facing activities. The role may include actively driving presentations creation or delivery, and general networking activities. As well as previous experience in leading a sales engineering/ presales team you will require both Telecommunications (MPLS, Ethernet,) and Cloud platforms (Azure, Aws, Oracle etc) knowledge.
- Product Manager - Access Controls
- £50,000 - £90,000
An Identity and Access Controls vendor are currently looking to bring on board an exceptional Product Manager with recent exposure around Access Controls and Identity Management. The particular portfolio this person would be responsible for is their Events and transportation Access controls solutions. Managing and overseeing Configuration and implementations of these solutions. The Product Manager would need previous experience within a similar product suite, particularly around Access Controls/ Identity & Access Management delivery programmes. Project size will vary from £200,000 to larger multi-million pounds, so someone with experience managing these sizes of projects is key. This will be a client facing position, so someone with strong customer engagement skills, and the willingness to travel will be essential. If you have any project management certifications, for example Prince2 Practitioner, This will be hugely advantageous. Due to some of the Engineering team being based in Italy, Someone with strong Italian speaking and listening skills will be a front runner, but this is not an essential skill. Unfortunately sponsorship can't be provided to non-eu candidates TC7774 Salary: £50,000 - £90,000 Location: London with travel Cyber Security Jobs | Information Security Jobs | Access Controls Jobs | IDAM Jobs | IAM Jobs | Identity And Access Management Jobs
- CyberArk Specialist
- Up to £90,000
We are currently working with an International Outsourcing business who are looking for a CyberArk Specialist to assist with a large scale Identity and Access Management rollout across large Financial institutions. This business is at the forefront of the financial services market, working alongside some of the largest banks globally, so this will be a great chance to be a key figure in large digital transformation projects. The CyberArk Specialist responsibilities for this role will to be the lead in the Configuration and Design of a Large Privileged Access Management rollout of the CyberArk suite. Solutions Design Client Engagement Liaison between the business and Technical teams If you have strong hands on CyberArk exposure and are looking to move into more of a Business led programme, this is a great opportunity to make that transition. The CyberArk Specialist will be mostly spent on client site, which is based in London. So the right individual will be commutable into Central London. Candidates must be based in the UK. Sponsorship can't be provided to non-eu applicants Salary: £Up to 90,000 Location: London REF: TC7773 CyberArk Jobs | Information Security Jobs | Cyber Security Jobs | IDAM Jobs | IAM Joba | Identity and Access Management Jobs
- Internal Cyber Security Consultant - Technology and Information Security
- Up to £60,000
CH7770 Internal Cyber Security Consultant - Technology and Information security Reading £60,000 Internal Cyber Security Consultant needed in Reading. If you have a blend of hands on experience between security technology solutions and information security and want to be the go to person within an organisation to drive, shape and maintain the security landscape then apply today. MUST be commutable to Reading The Internal Cyber Security Consultant role requires a blend of hands security technology and information security experience- advisory / implementing. Specifically Technology - Support, maintaining, configuring, analysing logs of internal Security technology. As well as identifying new technologies to implement into the business. Information Security - Ensuring policies are relevant to the internal security technology, ensuring ISMS is up to date, aiding in new policy definition. Security user awareness - training. Internal Cyber Security Consultants role will be diverse covering the breadth of the Security landscape. All details kept in the strictest of confidence. Chris.Holt@dclsearch.com 07884666351