Business

Why Equifax Security is Stronger Today 

August 09, 2021

TODAY'S CYBER CHALLENGES are unprecedented – and Equifax is ready. We’ve transformed security across our enterprise following the cyber attack in 2017. Equifax has built an industry-leading security program, backed with the largest investment in our company’s history and supported by a team of highly-skilled security professionals who successfully defend against millions of threats every day. 

Have questions on our approach? Below are the highlights of the Equifax Security transformation efforts taken over the last few years, which are included in this recent company report.

  • Equifax has become a leader in security.
    Every organization, large or small, is a target for a cyber attack. And, when a breach happens, how you respond matters. In the aftermath of our own cyber attack by the Chinese military, Equifax CEO Mark Begor testified in front of Congress and made a public commitment to become a leader in security.
     

  • We embedded security into the DNA of the company.
    Equifax invested $1.5 billion in security and technology, the largest investment in our 122-year history. And, because we know that prioritizing security starts at the top, we changed our reporting structure so that our Chief Information Security Officer reports directly to the CEO.
     

  • A security-first culture is our foundation.
    We became one of the first publicly traded companies to add a security component to the annual incentive plan for all bonus-eligible employees. We also gave every employee visibility into their own security performance along with clear behaviors to improve their personal security scorecard. 
     

  • We rebuilt our company’s security and technology systems.
    Our migration to the cloud has created an opportunity to exceed traditional on-premise security. Over 150 automated security checks in our cloud environment give us visibility into our security posture – in real time – to a degree that has never before been possible.
     

  • We are committed to being a force for good in security.
    In the words of Begor, “Security isn’t a trade secret.” We’ve helped others prepare to defend against emerging threats by conducting briefings with our customers and policymakers and by collaborating with law enforcement and intelligence partners.
     

  • Measuring Progress.
    Equifax’s security capabilities now rate higher than the financial services industry median, as well as 97% of the 1,000 largest U.S. firms surveyed. (Source: Bitsight, an independent cybersecurity rating company, March 2021). 

    In addition, Equifax exceeds every major industry average on the Gartner Control Maturity Benchmark. We used the Gartner Control Maturity Benchmark Service to assess our security program maturity. At year-end 2020, our security program outperformed the averages of 11 major industries.