ipl-logo

Business Insider Equifax Fraud Essay

988 Words4 Pages

We domicile in a digital era where computer technology is rapidly advancing and reshaping the cyber world, both government and private sectors are heavily reliant on information systems/ computers to execute everyday operations. As time progresses private/government sectors and business are encountering emit cyber threats which penetrate and compromise network databases in all entities. However, with each mandated patch designed to encapsulate the vulnerability follows a newer more sophisticated version of the latter threat. Even then entities continue overlooking the severity of operating infrastructures with diminutive security and no systematic measures; when consumer proprietary and sensitive data are developed, contained, and transmitted …show more content…

In rare cases, data leaks occur due to human error or simple mishap, although Equifax’s situation utter slothfulness caused its compromise (Sweet). According, to Business Insider Equifax’s massive software invasion was avoidable, but they delayed employing system patches. The threat resonated in Apache Struts an open-source software containing a technological crack hackers utilized to corrupt the software and extract- full legal names, addresses, birth dates, and social security numbers. Equifax announced its massive data breach around September 13th, 2017 whereas, the compromised transpired during July 2017 (Sweet). This delay in informing the public is preposterous, leaving Americans wholly susceptible to any and all illicit activities. Equifax plays a pivotal behind-the-scenes role in the financial livelihood of millions of Americans, given the circumstances their actions may negatively impact millions of people's futures.
So, how will Equifax go about rectifying this enormous disarray bestowed upon millions of adults? They immediately categorized this attack as “zero-day” suggesting it was a first-time occurrence, therefore, no possible patches at the moment. All customers will receive free credit monitoring service as if that is enough to eradicate data from the dark web. I believe organizations exhibiting criminal misconduct should be held accountable for their

Show More
Related

David Cox's Letter To Katherine Archuleta

138 Words | 1 Pages

China has, this year, allegedly stolen thousands of federal data from US citizens and is building a federal database. DoD is building a list of victims. Many people are ready to establish a class action lawsuit to sue The federal government. David Cox, the president of the American Federation of Government Employees, charges it was all employees and all data. In a letter to Katherine Archuleta, the director of the Office of Personnel Management, Cox also charges that the Social Security numbers kept on government computers were not encrypted, "a cybersecurity failure" that Cox calls "absolutely indefensible and outrageous."

Read More

The Home Depot Data Breach Case

1723 Words | 7 Pages

The hackers used this access to install customized malware, used to extract data. Over 76 million customers and over 7 million businesses were affected. The data that was compromised included, names, addresses and phone numbers as well as additional information about the users that chase uses internally. ("Form 8-K," n.d.) Although there has been no evidence of lost funds, the possibilities of this attack we unsurmountable.

Read More

Acct 391 Unit 1 Business Security And The Future

1670 Words | 7 Pages

Marques Underwood INSS 391 Security and the Future With the transition of companies leaning towards advancing through the usage of big data, cybersecurity and the trends in technology are creating an increase in threats. The goal is to protect the databases and devices used at these companies before they are hacked and compromised for unwanted reasons. We’ll see the general concerns with security in the IT field, and steps that specific companies are taking to prevent and adopt to the landscape of the future in security. Devices are increasing at a rapid pace these days, meaning the more data is being expanding.

Read More

FICO 531 Week 5 Assignment

1050 Words | 5 Pages

*** The good news is this: There is one simple weapon we have that they credit sharks cannot take away from us... And that is KNOWLEDGE. Yep... A little bit of knowledge about how the credit industry works can put an INSTANT stop to all this.

Read More

The Immortal Life Of Henrietta Lacks Analysis

1624 Words | 7 Pages

In 2015, “the private information of more than 50 million individual” (Solon) by a private data firm based in the UK called Cambridge Analytica. The purpose of the firm is to read data in order to provide information to clients, be it advertisements or general consensus on pressing issues. Essentially, the firm is payed for information on people. In her article, “The Six Weeks That Brought Cambridge Analytica Down”, Olivia Solon describes that Facebook’s response to the data breach was simply asking the firm to delete it. In the recent investigation, Facebook was questioned as to why they acted how they did to which they replied that they trusted that Cambridge Analytica did as they were told.

Read More

Bre-X Fraud Essay

761 Words | 4 Pages

Bre-X: an infamous fraud in capital markets Background Bre-X Minerals Ltd. was a subsidiary of Bresea Resources Ltd. founded by David Walsh in 1989. Also as a major part of Bre-X in Canada, it was involved in a gold mining fraud causing a big hit in 1990s. Michael de Guzman was originally a geologist in Philippines. The initiator of evil is that he wanted to receive recognition of the job performance. So after consideration, he had a plan to make fortunes.

Read More

Target's Fraud Case

1072 Words | 5 Pages

1 Target missed alarms led to 40 million credit card numbers has been stolen. On Thanksgiving Day 2013, someone installed malware in Target’s (TGT) security and payments system designed to steal every credit card used at the company’s U.S. stores. And when the Christmas gifts had been scanned and bagged and the cashier asked for a swipe, the malware would step in, capture the shopper’s credit card number, and store it on a Target server commandeered by the hackers. Target claimed that the initial breaking- in its systems was traced back to network credentials that were stolen from a third party vendor.

Read More

Essay On Denial Of Service Attack

671 Words | 3 Pages

The United States has come under attack of a sophisticated enemy, one that has proven the capability to render the economic system useless. What will come next is a coordinated response among the Intelligence Community in order to determine who committed these attacks, what level of damage was incurred by the United States, what should be told to the public, as well as possibility of a response by the United States on the perpetrators. What will be encouraged across the intelligence community, is the sharing of information on the potential intrusions not only on the economic infrastructure but also potential intrusions and exploitation from these attacks on economic information, i.e. trade secrets, banking information,

Read More

Jp Morgan Chase Bank Fraud Essay

709 Words | 3 Pages

JPMorgan Chase Bank has faced several lawsuits in recent years. They have been hit with cases concerning fraudulent misrepresentation, bribery, and many things in between. By studying the accusations the company has faced, one receives a better understanding of who is really handling their money. An act of fraudulent misrepresentation cost JPMorgan the fine of a lifetime.

Read More

Impact Of Cyber Security On The Wayward Pines Public Library

427 Words | 2 Pages

Fundamentally, the goal of this project is to provide cyber security for the 16 libraries public access computer at the Wayward Pines Public Library—ensuring protection from external threats. Such external threats can and do have long lasting impact on the operation of cyber systems to which they are introduced, be they malicious in nature or not. Least we forget the problem that has been the focus of this project all along, the zombification of one of the library’s computers and its subsequent attack on a foreign computer. To this end, achieving this goal is paramount in nature and, as indicated by experts in the field of cyber security, best practice no matter the size or number of cyber systems being addressed.

Read More

Gramm-Bliley Act Of 1999 (FSMA)

512 Words | 3 Pages

The “inadvertent loss of personal financial data” (Reynolds, 2014, p. 135), will result in a high risk of loss of privacy and security protections when accessing many of these financial products and services. According to Ethics in Information Technology (Reynolds, 2014), “The FCRA regulates the operations of credit-reporting bureaus... is designed to ensure the accuracy, fairness, and privacy of information gathered by the credit-reporting companies…” (Reynolds, 2014, pp. 135-136). In other words, the FCRA was created to protect consumers from the possible misuse of individuals’ personal information, such as employment, housing, and

Read More

SWOT Analysis: Capital One

1626 Words | 7 Pages

It’s important for current & future customers/clients to know exactly what they’re getting into anytime they’re looking to do business. In a 2017 article provided by Rebecca Lake titled 23 Frightening Credit Card Statistics, she points out a list of these statistics which will discuss credit & debit card fraud, & identity theft: • 46% of Americans fell victim to credit card fraud at some point within the last 5 years. • Only 21% experience debit card fraud. • 47% of these matters occur right here in the U.S (a report from Barclays). • Almost 60% of data braches had something to do with identity theft.

Read More

Anti Fraud Policy Paper

883 Words | 4 Pages

We are committed to a zero-tolerance policy when it comes to fraud in order to protect our company and help maintain our positive relationships with everyone involved in our business.

Read More

Pros And Cons Of Internet Privacy

725 Words | 3 Pages

But for the Internet to grow and thrive, users must continue to trust that their personal information will be secure and their privacy protected. Internet privacy concerns are warranted. According to a July 2015 survey of Internet-using households,[3] 19 percent of such households (representing nearly 19 million households) reported that they had been affected by an online security breach, identity theft, or similar malicious activity during the 12 months prior to the survey. Security breaches appear to be more common among the most intensive Internet-using households—31 percent of those using at least five different types of online devices suffered such breaches. Security breach

Read More

Cybersecurity Personal Statement Examples

705 Words | 3 Pages

Cybersecurity has become a growing cause for concern in the United States and indeed countries around the world. On February 9, 2016 President Barack Obama announced his Cybersecurity National Action plan (CNAP) to further the nations efforts to protect government agencies, citizens, and businesses from cyber threats domestic and abroad. However, cybersecurity is not a new issue in fact it is as old as the internet itself. With that said, I keep thinking back to that warm September day stained with the image of an enormous fireball engulfing our small TV set. This horrific day changed the course of history forever along with my future career path.

Read More

More about Business Insider Equifax Fraud Essay

Related Topics

Open Document