While this is not the largest data breach in history, it is quite possibly the most damaging. The Equifax breach is another painful example teaching us that cyber resilience begins and ends with the board and senior executives. It would appear that at Equifax, customers (banks and lenders that want to gauge people’s credit worthiness), growth, shareholders and investors mattered more than managing cyber risk, privacy or information security. In a keyword search through 5 years’ worth of Equifax annual reports, terms that would suggest adequate risk awareness, such as risk management, cyber risk, privacy, data security, data breach or information security, barely appear at all. In fact, the term cyber risk does not appear once in any of the credit bureaus’ annual reports in the last 5 years.

Source: Huffington Post September 18, 2017 02:15 UTC