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UK Regulator Fines Equifax £500,000 Over 2017 Data Breach

UK Regulator Fines Equifax £500,000 Over 2017 Data Breach
Sep 20, 2018
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. Flashback: The Equifax Data Breach 2017 Equifax suffered a massive data breach last year between mid-May and the end of July, exposing highly sensitive data of as many as 145 million people globally. The stolen information included victims' names, dates of birth, phone numbers, driver's licens

Equifax Suffered Data Breach After It Failed to Patch Old Apache Struts Flaw

Equifax Suffered Data Breach After It Failed to Patch Old Apache Struts Flaw
Sep 14, 2017
The massive Equifax data breach that exposed highly sensitive data of as many as 143 million people was caused by exploiting a flaw in Apache Struts framework, which Apache patched over two months earlier of the security incident, Equifax has confirmed. Credit rating agency Equifax is yet another example of the companies that became victims of massive cyber attacks due to not patching a critical vulnerability on time, for which patches were already issued by the respected companies. Rated critical with a maximum 10.0 score, the Apache Struts2 vulnerability (CVE-2017-5638) exploited in the Equifax breach was disclosed and fixed by Apache on March 6 with the release of Apache Struts version 2.3.32 or 2.5.10.1. This flaw is separate from CVE-2017-9805, another Apache Struts2 vulnerability that was patched earlier this month, which was a programming bug that manifests due to the way Struts REST plugin handles XML payloads while deserializing them, and was fixed in Struts versio

Cybersecurity Tactics FinServ Institutions Can Bank On in 2024

Cybersecurity Tactics FinServ Institutions Can Bank On in 2024
Feb 14, 2024Financial Security / Cyber Threats
The landscape of cybersecurity in financial services is undergoing a rapid transformation. Cybercriminals are exploiting advanced technologies and methodologies, making traditional security measures obsolete. The challenges are compounded for community banks that must safeguard sensitive financial data against the same level of sophisticated threats as larger institutions, but often with more limited resources. The FinServ Threat Landscape Recent trends show an alarming increase in sophisticated cyber-attacks. Cybercriminals now deploy advanced techniques like deep fake technology and AI-powered attacks, making it increasingly difficult for banks to differentiate between legitimate and malicious activities. These developments necessitate a shift towards more sophisticated and adaptive cybersecurity measures. Take these industry statistics, for example. Financial firms report 703 cyberattack attempts per week.1 On average, 270 attacks (entailing unauthorized access of data, appl

Equifax Hack Exposes Personal Info of 143 Million US Consumers

Equifax Hack Exposes Personal Info of 143 Million US Consumers
Sep 07, 2017
It's ironic—the company that offers credit monitoring and ID theft protection solutions has itself been compromised, exposing personal information of as many as 143 million Americans—that's almost half the country. Equifax, one of the three largest credit reporting firm in the United States, admitted today that it had suffered a massive data breach somewhere between mid-May and July this year, which it actually discovered on July 29—that means the data of 143 million people were exposed for over 3 months. However, it's unknown why Equifax waited 6 weeks before informing their millions of affected customers about the massive security breach. Based on Equifax's investigation, unknown hackers exploited a security vulnerability on its website to gain unauthorized access to certain files. Stolen data includes consumers' names, Social Security numbers, and birth dates for 143 million Americans, and in some instances, driving licence numbers and credit card n

The Critical State of AI in the Cloud

cyber security
websiteWiz.ioArtificial Intelligence / Cloud Security
Wiz Research reveals the explosive growth of AI adoption and what 150,000+ cloud accounts revealed about the AI surge.

Data Breach Day — Patreon (2.3M), T-Mobile (15M) and Scottrade (4.6M) — HACKED!

Data Breach Day — Patreon (2.3M), T-Mobile (15M) and Scottrade (4.6M) — HACKED!
Oct 03, 2015
This week, three high-profile data breaches took place, compromising personal and sensitive details of millions of people. Telecommunication giant T-Mobile Crowdfunding website Patreon US brokerage firm Scottrade In T-Mobile's case, its credit application processor Experian was hacked , potentially exposing highly sensitive details of 15 Million people who applied for its service in the past two years. The stolen data includes home addresses, birth dates, driver's license number, passport number, military I.D. numbers and – most unfortunately – the Social Security numbers, among other information. Patreon Hack Hits 2.3 Million Users In Patreon's case, hackers managed to steal almost 15 gigabytes' worth of data including names, shipping addresses and email addresses of 2.3 Million users . In a post published late Wednesday, Patreon CEO Jack Conte confirmed that the crowdfunding firm had been hacked and that the personal data of its users h

Experian Breach: 15 Million T-Mobile Customers' Data Hacked

Experian Breach: 15 Million T-Mobile Customers' Data Hacked
Oct 03, 2015
If you applied for financing from T-Mobile anytime between 1 September 2013 and 16 September 2015, you have been HACKED! – even if you never had T-Mobile service. T-Mobile's credit application processor Experian was hacked, potentially exposing the highly personal information of more than 15 million people in the United States. The stolen information includes names, addresses, phone numbers and – most unfortunately – Social Security numbers . The massive data breach was first discovered in mid-September and has now been confirmed by T-Mobile CEO John Legere . According to Legere, Hackers successfully obtained Millions of people's private information through Experian, one of the world's largest credit check companies that process T-Mobile's credit applications. Both customers and people who submitted to a T-Mobile credit check ( but either canceled or never activated their T-Mobile service ) between September 1, 2013, and September 16, 2015, are most at ris
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