TransUnion reveals details about massive data breach — and why it refuses to pay the ransom

Furthermore, in “isolated circumstances”, spouse information, passport numbers, and credit or insurance scores may be impacted.

It demanded $15-million in cryptocurrency in exchange for not leaking the data online. The deadline for payment was 23:59 on Friday. The entities have recommended that TransUnion not pay, particularly given the risk that hackers and criminals may leak the data anyway. “It omits critical information that provides assurance on how the matter is managed. The report neither provides detail on how the credit bureau will mitigate the subsequent risks nor information on how the credit bureau will remedy this crisis.”

The real reason is that they face no repercussions for their weak security. Banks will continue to use them so their business will go on. The fine is paltry compared to the ransom. It’s shocking that such incompetence is allowed to handle our personal data.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Massive data hack: TransUnion says at least 3 million South Africans impacted – this is the information that was stolenCredit reporting agency TransUnion South Africa says that at least three million South Africans have been impacted by a data hack earlier this month. What I wanna know is why aren’t these companies liable for our data especially when they fumbled when it comes to Protecting the data . Their IT security,IT Audit and security teams honestly messed up - Password policy enforcement is supposed to be a standard thing
Source: BusinessTechSA - 🏆 24. / 61 Read more »

Regulator slams ‘inadequate’ response to massive personal data hack in South AfricaSouth Africa’s Information Regulator says it is dissatisfied with the actions of TransUnion after the credit reporting agency fell victim to a hacking group – compromising the personal data of South African citizens.
Source: BusinessTechSA - 🏆 24. / 61 Read more »