#Privacy guard credit reporting Patch
#Privacy guard credit reporting software
#Privacy guard credit reporting code

#Privacy guard credit reporting software

Information security teams should regularly reference the CVE database to remain informed of the latest software exposure.

Keep all software updated - This cyberattack could have potentially been avoided entirely if Equifax patched its development vulnerability.

Learn from this breach:įinancial services companies and small businesses can learn many critical lessons from this breach. More than 40% of the population of America was potentially impacted by the Equifax data breach.ĭue to the highly sensitive nature of Personally Identifiable Information (PII) and financial information that was compromised, Equifax was fined $700 million for the breach. During this period, top executives sold company stock, giving rise to insider trading accusations. On top of all this, over a month had elapsed before Equifax finally publicized the breach.

The hackers were able to exfiltrate data undetected for months because Equifax failed to renew an encryption certificate for one of their internal tools.

The hackers found usernames and passwords sorted in plain text, which were used to escalate privileges to achieve deeper access.

Equifax failed to segment its ecosystem, so the attackers were able to seamlessly access multiple servers after gaining access through the web portal breach.

#Privacy guard credit reporting Patch

At the time of the breach, the patch for CVE-2017-5638 had been available for 6 months.

The company failed to patch a well-known vulnerability ( CVE-2017-5638) for its Open Source developing framework - Apache Struts.

There are four primary flaws that facilitated the security breach. A string of terrible cybersecurity practices made the security breach almost too easy for cybercriminals. The Equifax data breach was nothing short of a disaster. Impact: 147 million customers How did the data breach occur?

Monitor for data leaks - A data leak detection solution will detect and shut down all internal or third-party data leaks before they're discovered by cybercriminals.

#Privacy guard credit reporting code

Implement code review policies - Before pushing any code live, it should be reviewed by a quality control officer.

The following lessons can be learned from the First American Financial Corp breach:

Phone numbers of closing agents and buyersĪrmed with this information, a wide range of cybercrime is possible including:.

The following data was compromised in the First American Corp data breach: Though data leaks and data breaches are two different events, they both share the same potential outcome - sensitive customer information falling into the hands of cybercriminals. This exposure was not initiated by a hacker, the vulnerability that facilitated sensitive data access was caused by an internal error - an event known as data leaks.

This is when a webpage link leading to sensitive information isn't protected by an authentication policy to verify user access. This error is known as a 'Business Logic Flaw' on the FIrst American Financial Corp website. More than 885 million financial and personal records linked to real estate transactions were exposed through a common website design error. Impact: 885 million credit card applications How did the data breach occur? First American Financial Corp Data Breach The 10 Biggest Data Breaches in the Finance SectorĮach record includes a summary of the key mistakes that lead to a data breach to help you avoid repeating them. This list is regularly refreshed to include critical 2022 events around the world in major countries like the US, UK, Australia, China, and many more. To support this effort, we've listed the 10 biggest data breaches in the financial industry, ranked by level of impact. This is why the financial sector is disproportionately targeted by cybercriminals, behind healthcare.īesides implementing a data protection solution specific to financial services, one of the best methods of mitigating data breaches is learning from the mistakes of others. Cybercriminals choose their targets based on two conditions - maximum impact and maximum profit.įinancial institutions perfectly meet these conditions because they store highly valuable data, and their digital transformation efforts are creating greater opportunities for cyber attackers to access that data.