ASSIGNMENT.docx - ASSIGNMENT BMIT5103 INFORMATION TECHNOLOGY FOR MANAGERS MBA_1ST SEMESTER JANUARY 2019 1 Equifax description Founded in 1899 and based

ASSIGNMENT.docx - ASSIGNMENT BMIT5103 INFORMATION...

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ASSIGNMENT BMIT5103 INFORMATION TECHNOLOGY FOR MANAGERS MBA_1 ST SEMESTER JANUARY 2019 1. Equifax description : Founded in 1899 and based in Atlanta, Georgia. Equifax has US$3.1 billion in annual revenue and 9,000+ employees in 14 countries, they operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia Pacific region. It is a member of Standard & Poor's (S&P) 500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs over 10,000 employees worldwide. They maintain records on all Americans’ and others credit history by gathering data from firms that issue credit, such as credit card companies, banks, and credit unions, and more others way include retail cusstomer information in the hands of the credit companies through less- obvious sources like cable or phone companies, property tax bills, or doctors' offices… Equifax has operated in the B2B sector, their clients are retailers, insurance firms, healthcare providers, utilities, government agencies, as well as banks, credit unions, personal
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and specialty finance companies and other financial institutions. who will buys businesses credit reports, analytics, demographic data, and software from Equifax. In September 2017, Equifax had a cyber-security disaster, cybercriminals accessed approximately 145.5 million U.S. Equifax consumers' personal data, including consumers' full names, Social Security numbers, birth dates, addresses, and driver license numbers. 2. Equifax cybersecurity disaster, Sep 2017: a. What was happen in Equifax? At Thursday afternoon, 07 September 2017, Equifax CEO - Rick Smith said in a video released that from mid-May and July 2017 hackers infiltrated thier network and stole customer names, Social Security numbers, birthdates and addresses and more consumer credit information reports, from their servers. The data taken affected as many as 147.7 million Americans. After that, The Internal Revenue Service (IRS), Social Security Administration (SSA), and U.S. Postal Service (USPS) - three of the major federal customer agencies that use Equifax’s identity verification services - conducted assessments of the company’s security controls and also made adjustments to their contracts with Equifax, such as modifying notification requirements for future data breaches. In addition, the Bureau of Consumer Financial Protection and the Federal Trade Commission, which have regulatory and enforcement authority over consumer reporting agencies (CRAs) such as Equifax, initiated an investigation into the breach and Equifax’s response in September 2017. US Congress was asked GAO - United States Government Accountability Office - to report on the major breach that occurred at Equifax in 2017. GAO reviewed documents from Equifax and its cybersecurity consultant related to the breach and visited the Equifax data center in Alpharetta, Georgia, to interview officials and observe physical security measures. GAO also reviewed relevant public statements filed by Equifax. Further, GAO analyzed documents from the IRS, SSA, and USPS.
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