Analysis of the Equifax Data Breach: Information System and Policy

This report analyzes the Equifax data breach, a significant event where the personal and financial data of millions of Americans were compromised. The report explores the vulnerabilities in Equifax's systems, highlighting the lack of regulatory oversight and the potential impact on consumers. It examines the methods used by hackers to access sensitive information, including credit card numbers and social security numbers, and discusses the potential consequences such as identity theft and financial fraud. The report references news articles and reports on the breach, and underscores the importance of data security and the need for stronger regulations to protect consumer data. This report is contributed by a student to be published on Desklib, a platform which provides all the necessary AI based study tools for students.

Running head: INFORMATION SYSTEM AND POLICY
INFORMATION SYSTEM AND POLICY
Name of the Student
Name of the University
Author Note

1
INFORMATION SYSTEM AND POLICY
Equifax storehouses the personal details of the financial lives of the American
citizens. The consumer credit reporting agency has in its records every detail ranging from
the credit cards owned by the people of the States to the details of their medical bills.
However, unlike banks and other financial institutions, the company is not monitored or
audited. This makes the data protection and other systems of the organisation more
vulnerable to the unethical activities like hacking or data leakage. The dangers of such lacks
in the oversight on the part of the organisation became evident when the company disclosed
the fact that their systems have been hacked into and the confidential and personal details of
almost half of the American population inclusive of the social security numbers of almost
half of the total population of the United States1.
I personally feel that this breach would affect the customers on a very large range.
According to the reports by Equifax, the hackers had exploited the vulnerability of a website
application to get hold of certain files that contained the information of almost 143 million
residents of the United States. I feel that once the criminals have access to the personal data
like credit card numbers, personal addresses and some of the driver licences, the financial
security of the residents may be breached. Data leaks like this would help the hackers to
capitalize on these personal data according to their wishes2.
1 Tara Cowley, 'Equifax Hack Exposes Regulatory Gaps, Leaving Consumers Vulnerable'
(Nytimes.com, 2017) <https://www.nytimes.com/2017/09/08/business/equifax.html?rref=collection
%2Fsectioncollection%2Fbusiness&action=click&contentCollection=business
%C2%AEion=rank&module=package&version=highlights&contentPlacement=1&pgtype=sectionfront>
accessed 25 October 2017.
2 Forbes.com, 'Forbes Welcome' (Forbes.com, 2017)
<https://www.forbes.com/sites/leemathews/2017/09/07/equifax-data-breach-impacts-143-million-
americans/#2b2bfe45356f> accessed 25 October 2017.

2
INFORMATION SYSTEM AND POLICY
References
Cowley T, 'Equifax Hack Exposes Regulatory Gaps, Leaving Consumers Vulnerable'
(Nytimes.com, 2017) <https://www.nytimes.com/2017/09/08/business/equifax.html?
rref=collection%2Fsectioncollection%2Fbusiness&action=click&contentCollection=business
%C2%AEion=rank&module=package&version=highlights&contentPlacement=1&pgtype=se
ctionfront> accessed 25 October 2017
Forbes.com, 'Forbes Welcome' (Forbes.com, 2017)
<https://www.forbes.com/sites/leemathews/2017/09/07/equifax-data-breach-impacts-143-
million-americans/#2b2bfe45356f> accessed 25 October 2017