Cyber and Fraud: How to Mitigate and Prevent the Next Data Breach

On September 7, Equifax, one of the three major credit agencies, announced that it had suffered a major data breach. Unidentified hackers exploited a vulnerability in the company’s website software to gain unauthorized access to company data from May through July, impacting as many as 143 million consumers. The incident is yet another reminder that organizations should enhance and better coordinate their cybersecurity and anti-fraud controls, including those related to identity management, authentication, data encryption, fraud detection and analytics, and patching vulnerable applications. Doing so will help prevent this type of attack in the future.