Chapter 8, Problem 13CSQ

Explanation of Solution

Security and control weaknesses:

• Equifax reported on 7^th September 2017 an unprecedent breach to its security by hackers, that resulted in loss of large amount of sensitive and personal data of its customers.
• Report states that for the period between mid-May to July 2017, information of 143 million customers were gained access by the hackers including 209,000 credit card details, personal information related to disputes, social security number and driver’s license numbers.
• This personal data can be misused in a lot of fraudulent ways as the hackers have access to private information of bank accounts, medical histories and financing.
• This enormous privacy disruption was reported by Equifax to local enforcement and also as necessary action, a cybersecurity firm was hired to investigate on the cause...