How Equifax data breach impact Forex brokers?


Biggest data breach in history poses dangers to brokers. Equifax’s security lapse could be the largest theft involving Social Security numbers in the US. How did Equifax data breach impact Forex brokers?

11 September AtoZForex Consumer credit reporting agency Equifax confirmed that a major data breach has been exposed earlier this year. The breach affected 143 million in the US and the hackers had access to the data between May and July.

Largest Social Security numbers theft

If you have a US credit report, there is a big chance that hackers stole your data. Considering that Equifax’s security lapse could be the largest theft involving Social Security numbers. The hacked data includes full names, social security numbers, dates of birth and ID numbers. The hackers had also stolen the data from Canada and UK. Meanwhile, an estimate shows that the credit card numbers of 209,000 consumers were stolen. John Ulzheimer, an independent credit consultant who previously worked at Equifax, called it as “the crown jewels of personal information.”

The data breach is damaging to Equifax, since its entire business revolves around being a secure storehouse and providing a clear financial profile of consumers that lenders and other businesses can trust. The credit profiles contain personal information, like how much people owe their houses or have any court judgments against them.

Is my data safe?

Equifax has set up a site called equifaxsecurity2017.com to find out the hacked accounts. The company’s credit monitoring program is offering the service to US customers free of charge for one year. Also, the service will search suspicious sites that give access to the Equifax report and other offerings.

Equifax data breach impact Forex brokers – DDoS attacks

Brokers in the US should be weary of prospective online impersonation attempts. As hackers could have sold the US data to other countries, in order to facilitate money laundering and frauds. Hence, vigilance is vital to prevent identity theft attempts. There have been reports of increased DDOS attacks against brokers.

The biggest risk to companies come from yielding to such demands, as such actions inevitably encourage the perpetrators to continue. Now is the time for companies to get their white papers ready those who are aiming to design security-related blockchain solutions to think about their ICO.

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