Equifax (NYSE: EFX) released its 2023 Security Annual Report, documenting the company’s continued commitment to security leadership through constant adaptation and proactive protection.
The fourth annual report outlines how Equifax “increased efficiency, reduced friction and strengthened continuous controls governance across its internal security program, while also collaborating externally for the benefit of consumers, customers and other organizations.”
Mark W. Begor, CEO of Equifax said:
“As we leverage our new Equifax Cloud™ capabilities, single data fabric, differentiated data and EFX.AI Artificial Intelligence capabilities to drive new product innovation for customers and consumers, trusted data stewardship, enabled by strong cybersecurity, is more important than ever. We are committed to being an industry leader in cybersecurity and continue to prioritize communication, collaboration, and transparency, helping shape the future of cybersecurity to strongly protect our organization, while simultaneously moving the whole industry forward.”
Over the past year, Equifax kicked off its journey “to passwordless logins; developed an assessment process for state compliance frameworks; enhanced its employee security scorecards; established quantifiable and continuous security risk scoring; and reduced times for threat hunt analysis, security operations center responses and data loss prevention support ticket processing.”
Jamil Farshchi, Chief Information Security Officer and Chief Technology Officer of Equifax said:
“The ingenuity, speed and variety of cyber attacks staged in the last year — ranging from rudimentary to sophisticated — underscore the scope and scale of the fight we’re in as cyber defenders. We’re winning that fight through our commitment to constant improvement and quick adaptation.”
The maturity of the Equifax cybersecurity program, which “represents how well an organization can adapt to cyber threats and manage risk over time, increased again in 2023, outperforming all major industry benchmarks for a fourth consecutive year, according to a leading global research and advisory firm.”
Additionally, a cybersecurity reporting service “found the security posture of Equifax — which reflects an organization’s readiness and ability to identify, respond to and recover from security threats and risks — continues to exceed Technology and Financial Services industry averages.”
The Report also highlights how Equifax “expanded its external collaboration, making the company’s cybersecurity practices available for the benefit of other organizations,” including:
- Partnering with the Costa Rican National Training Institute and Ministry of Technology to launch a free nationwide cybersecurity awareness course.
- Open-sourcing the Equifax security and privacy controls framework, which has since been accessed by more than 7,000 users in 95 countries.
- Helping the security compliance community minimize efforts and costs by sharing patterns that simplify compliance for systems regulated by Payment Card Industry Security Standards Council (PCI SSC).
