Outrage, lawsuits and justifiable anxiety exploded following disclosure of the damaging Equifax breach, which exposed sensitive information of some 145.5 million Americans. How should credit unions respond to the resulting threat?
The cybersecurity mess started when hackers took advantage of a flaw in the credit reporting agency software to steal social security numbers, birthdates, and other personal identifying information. This untethered information could come back to haunt credit unions and members in the form of account takeovers, fraudulent charges, and other criminal uses involving identity theft.
Security and industry experts offered their opinion about possible ramifications for credit unions from the Equifax breach.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
