Data breach is a security disaster

The latest massive data breach might be the most serious yet. Equifax Inc, a U.S.-based consumer credit reporting agency, announced this month that it had fallen victim to a cybersecurity breach that exposed the personal data of more than $143 million consumers.

The stunning revelation has caused enormous concern across the U.S. and the world. Equifax collects and aggregates information on over 800 million individual consumers and more than 88 million businesses worldwide. To make things worse, it collects more than enough data to make identity thieves salivate: Equifax has personal data from consumers that includes full names, Social Security numbers, birth dates, addresses, and, in some cases, driver’s license numbers.

The implications go beyond the 143 million people who must now closely monitor their credit indefinitely for any signs of identity theft. It also has possible criminal ramifications, as USA Today reports that some executives at the company are being investigated for allegedly unloading stock before the breach was announced (see “Feds reportedly investigate Equifax executives’ stock sales”).

How can this happen? How can a company responsible for safeguarding the most critical personal information imaginable find itself admitting to such a massive security failure? Unfortunately, it’s not uncommon for organisations to fall victim to those who would steal data. While it may be on a smaller scale than Equifax, it happens around the world regularly.

That is why CRI® Group has a team of trained corporate security & resilience experts who are focused on protecting such valuable information on every level. After all, it’s too late after a breach has occurred. An organisation can face criminal and civil penalties, not to mention the loss of trust and reputation among all of its stakeholders. A data breach tells consumers that you cannot protect their data and thus are not to be trusted with their business.

CRI® Group’s corporate due diligence services experts ask the hard questions, especially for any organisation conducting business on a global level. For example:

How do you manage the risks to digital and physical assets? CRI® Group can put measures that provide layers of cybersecurity resilience to thwart hackers and those trying to steal your data.

How quickly can we respond to a serious business crisis? CRI® Group’s corporate due diligence services can help you detect breach attempts before they succeed and have a chance to damage your business.

Can the organisation rely on our third-party business partners to maintain appropriate levels of control? One of your biggest risks is what happens outside of your organisation. Our third party risk management and due diligence services can help detect weaknesses among your partners and alert you to risk areas.

The team at CRI® Group can help you road map these risks and have sufficient action plans to deal with unforeseen threats to your business. Some risk factors cannot be completely avoided. But with the proper response plans in place, we can help bolster your corporate security and resilience and help you protect your stakeholders’ valuable data. Learn more.

Who is CRI® Group?

Based in London, CRI® Group works with companies across the Americas, Europe, Africa, Middle East and Asia-Pacific as a one-stop international Risk Management, Employee Background Screening, Business Intelligence, Due Diligence, Compliance Solutions and other professional Investigative Research solutions provider. We have the largest proprietary network of background screening analysts and investigators across the Middle East and Asia. Our global presence ensures that no matter how international your operations are, we have the network needed to provide you with all you need, wherever you happen to be. CRI® Group also holds B.S. 102000:2013 and B.S. 7858:2012 Certifications and is an HRO certified provider and partner with Oracle.