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Facebook, Inc. (FB) NasdaqGS 5 Year Stock Value - Sept 30, 2018
Source: finance.yahoo.com/quote/FB
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| Yahoo Finance, Technology Sector Heatmap - Sept 30, 2018 Source: finance.yahoo.com/screener/predefined/technology/heatmap |
Fast Facts
Hackers stole the personal data of nearly 150 million people from Equifax databases in 2017.
How did Equifax, a consumer reporting agency, respond to that event? Equifax said that it investigated factors that led to the breach and tried to identify and notify people whose personal information was compromised.
In addition, three federal agencies that use Equifax services made their own security assessments and modified contracts with Equifax. Moreover, other federal agencies that oversee consumer reporting agencies started investigating Equifax and gave further advice to consumers on how to protect themselves against security breaches.
What GAO Recommends
GAO is not making recommendations in this report. GAO plans to issue separate reports on federal oversight of CRAs and consumer rights regarding the protection of personally identifiable information collected by such entities. A number of federal agencies and Equifax provided technical comments which we incorporated as appropriate.
What GAO Found
GAO has identified four major cybersecurity challenges and 10 critical actions that the federal government and other entities need to take to address them. GAO continues to designate information security as a government-wide high-risk area due to increasing cyber-based threats and the persistent nature of security vulnerabilities.
GAO has made over 3,000 recommendations to agencies aimed at addressing cybersecurity shortcomings in each of these action areas, including protecting cyber critical infrastructure, managing the cybersecurity workforce, and responding to cybersecurity incidents. Although many recommendations have been addressed, about 1,000 have not yet been implemented. Until these shortcomings are addressed, federal agencies' information and systems will be increasingly susceptible to the multitude of cyber-related threats that exist.
What GAO Recommends
GAO has made over 3,000 recommendations to agencies since 2010 aimed at addressing cybersecurity shortcomings. As of August 2018, about 1,000 still needed to be implemented.
Thank you Mr. Chairman. There's a good correlation between countries that have strong law enforcement systems and punishment for cybercrime. So if you're a cybercriminal and you live in the US or the UK or France or Germany your life expectancy is probably only about three years before you're caught and go to jail. In places that have weak cybersecurity laws like Brazil or countries other developing countries um you see a growth in criminal activity. So the effort here is to have strong cyber security laws -- the U.S. leads in that with the Budapest Convention -- and to develop new ways to cooperate on the exchange of evidence and on efforts to take down networks. So currently there is no central place that does this. The UN has a committee on crime that is trying to develop a more common approach but the differences among nation make it hard to get... cooperation. Thank you.
