Equifax hack - Fujitsu comment
Following the news that about 143 million US customers of credit report giant Equifax may have had information compromised in a cyber security breach, we wanted to share the below comment from Paul McEvatt, Senior Cyber Threat Intelligence Manager and Fujitsu.
“Cyber-attacks make headlines on a daily basis, and today Equifax has fallen victim. With data becoming a new currency in itself, any organisation that holds data has a target on their backs. These threats are only going to increase exponentially, and as a result no business can afford not to take their data protection and cyber security seriously, or indeed make it their number one priority. We have seen how data breaches do indeed have both reputational and financial ramifications, and in this case, with Social Security numbers, birth dates and addresses being accessed, a lot will need to be done to build up customer trust again.
“What businesses in the UK should take away from this breach is the seriousness of data protection. The implementation of GDPR is going to be upon us before we know it, where businesses will also have to pay fines on top of any customer fall out they may have. Organisations need to take these headlines as a warning and use this as an opportunity to get all of their cyber measures in place.
“Organisations need to focus on the integration of threat intelligence and other information sources to provide the context necessary to deal with today’s advanced cyber threats. There must be a clear and well-rehearsed incident management plan for a breach, addressing internal and external communication in addition to containment and recovery activities. Now is the time for organisations to stop being hunted and instead become the hunter when it comes to cyber security. Ensuring a compliant business environment: that will help protect the services that we depend on as a nation.”