From the course: Reputation Risk Management
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Case study: Equifax data breach, 2017
From the course: Reputation Risk Management
Case study: Equifax data breach, 2017
- Consumers, the media, and financial analysts had long regarded Equifax as one of the three trusted credit reporting and monitoring agencies used by many people to keep their financial information safe. So on September 7, 2017 when millions of Americans woke to the news that the company they trusted to watch their financial information had been hacked, consumers worried. If it could happen to a trusted company like Equifax, is anyone safe? On that day, Equifax publicly revealed that a data breach it discovered on July 29 had impacted more than 143 million consumers in the United States. The company claimed hackers had accessed customer names, social security numbers, birth dates, addresses, some driver's license numbers and about 209,000 credit card numbers. Later, the company said it had actually underestimated the number of victims by 2.5 million. Needless to say, this was a high-profile incident. The media reacted quickly with thoughts on how Equifax handled the situation. Some…
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