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equifax

Weekly Cyber Security News

Equifax Breach Settlement Could Cost Firm Billions

equifaxEquifax could end up paying as much as $9.5bn following a data breach settlement branded one of the largest in history by its presiding judge.

The credit reporting giant suffered a major cyber-attack in 2017 after hackers exploited an unpatched Apache Struts vulnerability, compromising highly sensitive personal and financial information on around 148 million customers.

Over two-fifths (44%) of the population of the US are thought to have been affected.

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Facial recognition: EU considers ban of up to five years

facial-recognitionThe European Commission has revealed it is considering a ban on the use of facial recognition in public areas for up to five years.

Regulators want time to work out how to prevent the technology being abused.

The technology allows faces captured on CCTV to be checked in real time against watch lists, often compiled by police.

Exceptions to the ban could be made for security projects as well as research and development.

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Travelex warns customers to be alert to phone scams

Under-fire forex provider warns that criminals may try to take advantage of its predicament to scam customers.

End-user customers of beleaguered foreign currency services provider Travelex – which is still trying to recover from a ransomware attack more than two weeks after its systems were first taken offline – have been warned that opportunistic criminals may try to take advantage of the situation to scam them.

In a new update on the firm’s still out-of-service website, Travelex said that because the attack on its systems was so high-profile, it was likely that criminal groups would try to take advantage of it.