Chapter 8, Problem 14CSQ

Explanation of Solution

Management, organization, and technology factors contributed to the problem:

Management factors:

• Even though management at Equifax made declarations of cybersecurity as top priority, there was observations by competitors that Equifax has not put efforts to improve their IT ability.
• The presentations of Equifax executives coinciding with the cyberattack on the company, still mentioned that their security was an important concern.
• The statements contrast with observations that Equifax displayed on improving their growth across customer database.

Organization factors:

• The organisation has showed serious lack of interest to protect the information it holds. The personal information it holds of customers located internationally include employment data, and salaries. These data were exchanged with lenders, insurance companies and other companies that influence a variety of social factors like the customer’s credit, renting ability, and employment.
• Equifax is likely to escape without a serious penalty as the current regulatory authority is lenient on pressing charges in these cases...