Posts Tagged ‘consumer data’

What’s Next for Consumer Data Security?

Posted on September 29, 2017 by Laura Lam

For Equifax, the fallout from its massive data breach is far from over.  The company is facing numerous inquiries from government agencies and even lawsuits.  The breach exposed serious flaws in the financial system’s consumer data security framework.  So how can the financial services industry protect against fraud in the future?  How can they make things safer? According to a new report from ratings agency DBRS, the answer to making things safer is to further embrace technology.  Specifically, DBRS states that it believes the financial services industry needs to move towards biometric security, which would provide additional layers of protection that a Social Security…

Equifax Fallout: What You Need To Know

Posted on September 14, 2017 by Laura Lam

For many people, the news late that Equifax was hit with a data breach that may have compromised personal data of 143 million U.S. consumers brought on a heavy case of déjà vu.  From mid-May through July 2017, social Security numbers, birth dates, addresses and, in some instances, driver’s license numbers and credit card numbers were exposed in the breach.  It may have felt like one of the many previous data breaches including Yahoo, Target, and Home Depot.  However this breach looks to be a bit more severe than most of these others and it will have consequences in multiple…