Payments Journal: Equifax: Rolling Thunder for Authentication

September 15, 2017 — Equifax: Rolling Thunder for Authentication

In this featured article, Robert Capps, VP at NuData, comments on the Equifax breach that will affect 143 million Americans or more than half of the adult population in the US.

And finally, the biggest breach yet is now the Equifax Breach that will affect 143 million Americans or more than half of the adult population in the US. Through this breach alone, cybercriminals were able to access social security numbers, names, addresses, phones, emails, passwords, and tax information that includes such things as all members of a family and their personally identifiable information (PII). If previous retail, healthcare, government, and telecom breaches were not serious enough, this time hackers got away with the most important PII – social security numbers and the ramifications for those affected will last a lifetime.

Equifax says the hackers were able to access the company’s network by exploiting a weak spot in the website software. This is just the beginning of the discovery as more revelations cascade out. Hackers could release a portion of the information and hold the rest for ransom, but there are many complicated scenarios that could occur in the days and weeks to come.

For the complete article, go here.