Not quite a pound for every one of the 13.8 million affected UK citizens, and it could have been more
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"Firms not only have a technical responsibility to ensure resiliency, but also an ethical responsibility in the processing of consumer information. The Consumer Duty makes it clear that firms must raise their standards." "The risk of identity theft never stops. Cybercriminals are sophisticated and innovative; it is imperative that firms maintain the highest standards in data protection."The two companies involved here are Equifax Ltd and Equifax Inc. There are key differences between the two that are important in fully understanding the case.
The direct UK consumer data from GCS is what was outsourced to Equifax Inc's US servers for processing under a Data Processing Agreement between the two companies. From scandalous security practices that allowed attackers in the door to disclosure strategies that would boggle the minds of anyone who came into the workforce post-GDPR, the Equifax breach highlighted a litany of issues.The investigation into why this wasn't patched revealed that the breach initially began on March 10, 2017, when cybercriminals started scanning the unpatched systems two days after US-CERT issued an advisory about the vulnerability.
Most UK citizens had their names and DOBs accessed. More than a million had their phone number included in this too. A series of phone calls followed in which the FCA said Equifax Ltd was unable to answer basic questions about the nature of the breach. What followed were"frustrating" delays in identifying and remediating the impacted consumer records.
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