Summary:

UK regulator fines Equifax £11m for failing to protect UK consumer data in the 2017 data breach. The breach was preventable, and Equifax did not provide sufficient oversight of the data it outsourced to its US-based parent company. Equifax did not find out about the hack until six weeks after it was discovered, leading to delays in informing customers. Equifax also gave misleading statements and mishandled complaints from customers. The severe penalty highlights the importance of cybersecurity and data protection in the financial services industry.

Hashtags: #Equifax #DataBreach #UKRegulator #FCA #Cybersecurity #DataProtection #FinancialServices

https://www.infosecurity-magazine.com/news/regulator-fine-equifax-data-breach/