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143 Million People Potentially Affected by Equifax Data Breach

Equifax, one of the largest credit reporting agencies in the United States, recently announced that it had been the victim of a cyber attack that may have compromised the personal information of 143 million people. Between May and July 2017, hackers were able to exploit a weak point in Equifax’s website that gave them access to information such as Social Security numbers, birthdays, addresses and driver’s license numbers. Additionally, Equifax stated that 209,000 credit card numbers were stolen.

Experts believe that the data breach is severe and widespread enough to affect anyone with a credit report. And, because hackers were able to target personal information, your business could be susceptible to cyber attacks—especially attacks that rely on social engineering and personal details.

The following is a list of steps you should take to protect your business and employees:
• Assure your employees that your priority is to protect their best interests and the business as a whole.
• Have your employees check to see if they were affected by the breach. Equifax has set up a website to help individuals determine if any of their personal information may have been stolen. All affected U.S. customers can sign up for a free year of Equifax’s TrustedID Premier service to help prevent identify theft and monitor credit reports.
• Instruct all of your employees to change any passwords that they use for work and to avoid passwords that they’ve used before.
• Tell employees to remain skeptical of any business requests that aren’t made face to face. Hackers often use personal details obtained from a data breach to disguise themselves as a trusted source and make a malicious request for money or information.

The recent data breach demonstrates the importance of commercial cyber insurance and a well-trained workforce. Contact Warren G. Bender Co. today for more details on how cyber insurance can protect your business.

Filed under: Property & Casualty — Jillian Bender-Cormier @ 9:12 pm October 25, 2017