Flaws in the Data Economy Will Make Future Breaches Even More Frequent and Damaging

On September 8 2017, Equifax announced a breach of the sensitive personal information of 143 million US consumers, as well as customers in the UK and Canada. The breach highlighted two systemic problems:

  1. In the data economy, companies mine individuals' data without concern for security, and
  2. The world runs on software without understanding how vulnerable it is.

Both issues are getting worse, which means all of us are in store for even larger, more damaging breaches. The effects of this breach will be felt in waves, starting with seismic impacts at the core.

What did we learn in the months after the Equifax Breach?

Everyone Is Complicit In The Equifax Breach: Whether or not companies properly protect this sensitive information, users reward them with time and money.

This Breach Will Continue To Disrupt A Massive Economic Ecosystem: This breach will have cascading effects on travel and leisure, advertising, freight, and construction, beyond the obvious impacts to credit and financial services.

Get Involved In Open Source Or Get Rid Of It: If your company uses open source in any way, get your company involved in management or development so you can get early warnings of vulnerabilities and make patches for the versions you need.

As firms brace for cascading repercussions of the Equifax breach, there are a lot of ways security and risk leaders can simultaneously reduce their own company's risk of similar attacks and reduce the systemic risks that threaten the data economy. Find out more in this report.

Forester Report: Equifax Exposed Two Massive Systemic Risks