Had any one of those factors been better handled, GAO said, the breach may not have occurred (see: Postmortem: Multiple Failures Behind the Equifax Breach). Government Accountability Office report released last September into the 76-day breach, via which attackers slowly exfiltrated data from 51 databases, identified five key factors that contributed to the breach: identification, detection, segmentation and data governance, as well as a failure to rate-limit database requests. It also led to the departure of the company's CEO, as well as its top two information security personnel.Ī House report into the breach released last December concluded that the breach "was entirely preventable," while a Senate report from last month concluded that the breach response was "inadequate and hampered by Equifax's neglect of cybersecurity"Ī U.S. and Canada, and dozens of lawsuits and formal investigations by state attorneys general. The breach led to Congressional probes, probes by privacy authorities in the U.K.
The breach also exposed information for 15 million U.K. Breached Impacted Half of All AmericansĮquifax's data breach resulted in the exposure of the personal data of 148 million individuals in the U.S., or 56 percent of all American adults - representing nearly half of the total U.S. Sales barely missed analysts' average expectations of $852.9 million - less then a 1 percent difference - while the $1.20 actual earnings per share fell below analysts' $1.23 expectation, according to data from Reuters. Equifax's quarterly revenue was $846.1 million, down 2 percent compared to the first quarter of 2018 although up 1 percent on a local currency basis. On Friday, Atlanta-based Equifax announced its financial results for the first quarter of 2019, ending March 31, reporting a loss of $555.9 million, compared to net income of $90.9 million in the first quarter of 2018. Two years after the data breach, which began on May 13, 2017, and the company discovered and began remediating on July 29, 2017, resulting legal costs and investigations haven't stopped taking a big bite out of the company's bottom line. See Also: Live Webinar | Breaking Down Security Challenges so Your Day Doesn’t Start at 3pm Credit reporting giant Equifax has spent nearly $1.4 billion on cleanup costs as well as overhauling its information security program following its massive 2017 data breach.
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