Your group is to read the case and answer the following questions.
1. How does Equifax’s business model work? Who is the customer, and what is the product?
2. Was Equifax lax or unlucky to be cyber-breached in this way?
3. Where would you assign accountability for the breach: the technology (security) team, senior management, CEO, or the Board of directors?
4. How would you characterize Equifax’s response in the wake of the breach?
5. In your view, how should Equifax have prepared for the breach and the subsequent response?
1. The company’s formal reaction to the breach was appropriate. They realized their mistakes. Both IT as well as ethics were not strong enough to withstand hackers.
2. Equifax must have trained it’s employees on importance of ethics, importance of protecting their confidential data and ensuring all are alert in regard with the security measures. The leaders of the company, I.e. CEO and top management must have focused on improving security measures and being responsive to even slightest of threats.
3. The employees at Equifax including the senior management was focused on their share values, rather than securing their clients information. I.e. their personal benefits were higher than securing their customers. Thus, they ignored the importance of security measures , which lead to hacking problems.
4. Firstly, train their employees on importance of considering customers before themselves. Secondly, having a strong and violent IT. Thirdly, inculcating a culture of continuous improvements in the organization..
5. The ethics training would include policies, rules and regulations facilitating ethics. Inculcating a sense of responsibility among employees and making them understand the importance of security and ethics for protecting customers. Also, this could also involve a formal ethical training to help employees realize ways to become more responsible. The vision and mission statements must promote ethics and boost employee morale.
Structure of the paper:
1. Title page
a. List the group number
b. List group members
2. Abstract (no more than 1 page)
4. Summary of the incident
5. Answer the questions from above
6. Conclusion – Explain how the breach could have been avoided
Format of the paper:
• Font – Calibri (11 Point)
• 1.5 line spacing
• 1-inch margins
• References APA style
• When writing the paper each student should label the part they contributed to the assignment. Example:
o Introduction (Steven Tharp)
• Minimum of 5 references