Equifax Case Study

Equifax, as most know, is one of the three largest credit reporting agencies also know as: The Big Three. In 2017 an inadequate password spilled over 148 million Americans personal data including  names, home addresses, phone numbers, dates of birth, social security numbers, and driver’s license numbers. The credit card numbers of approximately 209,000 consumers were also breached. Something to note on after that, In March 2018, the Security and Exchange Commission accused Jun Ying, Equifax's former CIO, of illicit insider trading, by selling company stock before the breach was publicly disclosed. After an investigation by the FBI, Ying pleaded guilty, was sentenced to four months of prison plus a year of supervised release, and was fined $55,000.00 and ordered to pay restitution of $117,117.61 on June 2019. An Equifax manager, Sudhakar Reddy Bonthu, also pleaded guilty to insider trading and received a sentence of 8 months of home confinement. Thats a really small price for them to pay compared to the millions of Americans information getting handed out like candy.
Something I found humorous was their value proposition stating: We lead with integrity, work as a team, respect all people and are performance driven to achieve excellence in all that we do. To me that sounds like a joke just to sound professional under a mask of shady deals.
The reason they got hacked in the first place was because of a password that was weak. That password was "Admin". That just shows the negligence that large companies can have.
Even though millions of Americans don't want to have their information in their database anymore, they have no choice and are stuck with having their valuable information with a shady business that deals with insider trading. It shows how much they care about their shareholders getting a kickback and making money.

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 Any questions email me!! talon.dennis.9514@mail.linnbenton.edu