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Equifax Security Failings Were Flagged By Wall Street Firm More Than A Year Ago

posted by Fnord666 on Monday October 09 2017, @02:27AM   Printer-friendly
from the someone-was-bound-to-have-said-it dept.

el_oscuro writes:

From Consumerist,

A company that supplies stock market indexes reportedly warned investors in August 2016 that Equifax, one of the nation's three major credit bureaus, appeared to be ill-equipped to fight off a sophisticated cyber attack.

The Wall Street Journal writes that MSCI, which provides a number of indices for tracking and predicting the behavior of the stock market, concluded last summer that Equifax was no longer a company investors could reasonably rely on to keep its data safe.

MSCI has a group of stock indices that take into account a company's economic, social, and governance (ESG) factors. Prior to last summer, Equifax had been included in these indices, but then MSCI determined that Equifax had failed to perform regular cybersecurity audits, train its employees to recognize risks associated with an attack, or have an emergency response plan in the case of a breach.

At first, Equifax remained on the MSCI ESG Leaders index, but with a 0/10 score for privacy and data. (Competing credit bureaus TransUnion and Experian scored a 4.9 and 6.9, respectively.) Then, in Nov. 2016, Equifax was removed from this index over concerns about data security.

Original Submission

 
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  • (Score: 1, Funny) by Anonymous Coward on Tuesday October 10 2017, @04:08AM (4 children)

    by Anonymous Coward on Tuesday October 10 2017, @04:08AM (#579604)

    Our society rewards this way of doing business.

    Why are you whining about this? You voted [soylentnews.org], and according to yourself, you're stuck with the results of that vote whether you like the outcome or not.

    The power is in your vote. [soylentnews.org] You have only yourself to blame. [soylentnews.org] Stop crying about it. [soylentnews.org]

    Starting Score:    0  points
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  • (Score: 0) by Anonymous Coward on Wednesday October 11 2017, @12:40AM (3 children)

    by Anonymous Coward on Wednesday October 11 2017, @12:40AM (#580184)

    The power is in your vote. You have only yourself to blame. Stop crying about it.

    Damn right! Please make a note of it...

    And your trolling is lame. Make a note of that also

    • (Score: 0) by Anonymous Coward on Wednesday October 11 2017, @09:50AM (2 children)

      by Anonymous Coward on Wednesday October 11 2017, @09:50AM (#580367)

      Trolling? Is that what pointing out rampant hypocrisy is called?

      • (Score: 0) by Anonymous Coward on Wednesday October 11 2017, @04:55PM (1 child)

        by Anonymous Coward on Wednesday October 11 2017, @04:55PM (#580570)

        Ah, but you aren't doing that. In fact, just the opposite, you are only digging your own hole even deeper

        • (Score: 1, Funny) by Anonymous Coward on Wednesday October 11 2017, @05:32PM

          by Anonymous Coward on Wednesday October 11 2017, @05:32PM (#580607)

          Ah, but you aren't [pointing out fustakrakich's hypocrisy].

          It's quite pathetic when one cannot comprehend one's own past posts. Perhaps you should try making them even smaller.