Equifax Data Breach Update: Latest Developments

Posted: September 29, 2017 to News.

Tags: Compliance, Data Breach, Digital Forensics

The Equifax data breach has been a disaster, but you don't seem to be hearing as much about it right now. So what's the latest? One big piece of news you might have heard over the last week is that Richard Smith, Equifax's CEO, has decided to retire, with the president of Equifax's Asia-Pacific division taking over as interim CEO. Smith's compensation has been deferred until the board has finished their own investigation into the matter. If no fault is found, Smith will walk away with about $90 million. There's also a subpoena, for one thing, which was issued by the New York Department of Financial Services, which seeks details on exactly when Equifax discovered the breach and what steps were taken. The NYDFS previously announced recommendations for financial institutions which include making sure software patches are applied as soon as they are released, which is something that would have prevented the Equifax breach. The FBI is also now involved, looking into criminal charges surrounding the data breach. The FBI isn't alone though; Equifax is also looking at investigations from dozens of state attorneys general, the SEC, the FTC, British and Canadian regulators, and Congressional hearings. That doesn't even include all the legal wranglings the company is facing from consumers in multiple countries and from other financial firms.

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About the Author

Craig Petronella

CEO, Founder & AI Architect, Petronella Technology Group

Craig Petronella founded Petronella Technology Group in 2002 and has spent more than 30 years working at the intersection of cybersecurity, AI, compliance, and digital forensics. He holds the CMMC Registered Practitioner credential (RP-1372) issued by the Cyber AB, is an NC Licensed Digital Forensics Examiner (License #604180-DFE), and completed MIT Professional Education programs in AI, Blockchain, and Cybersecurity. Craig also holds CompTIA Security+, CCNA, and Hyperledger certifications.

He is an Amazon #1 Best-Selling Author of 15+ books on cybersecurity and compliance, host of the Encrypted Ambition podcast (95+ episodes on Apple Podcasts, Spotify, and Amazon), and a cybersecurity keynote speaker with 200+ engagements at conferences, law firms, and corporate boardrooms. Craig serves as Contributing Editor for Cybersecurity at NC Triangle Attorney at Law Magazine and is a guest lecturer at NCCU School of Law. He has served as a digital forensics expert witness in federal and state court cases involving cybercrime, cryptocurrency fraud, SIM-swap attacks, and data breaches.

Under his leadership, Petronella Technology Group has served 2,500+ clients, maintained a zero-breach record among compliant clients, earned a BBB A+ rating every year since 2003, and been featured as a cybersecurity authority on CBS, ABC, NBC, FOX, and WRAL. The company leverages SOC 2 Type II certified platforms and specializes in AI implementation, managed cybersecurity, CMMC/HIPAA/SOC 2 compliance, and digital forensics for businesses across the United States.

CMMC-RP NC Licensed DFE MIT Certified CompTIA Security+ Expert Witness 15+ Books

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Equifax Data Breach Update: Latest Developments

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