It’s tough to see how Equifax survives this. But it is also an important message to businesses that they must take data security seriously.
It states that Equifax was negligent in securing its website from the hacker intrusion, in failing to detect the intrusion for weeks and in failing to notify consumers of the breach for nearly six weeks. Equifax also knew or should have known that its data security measures were inadequate, the lawsuit states.
Summit, with $2.6 billion in assets, 34 locations in Wisconsin and more than 162,000 members, is asking for orders temporarily and permanently barring Equifax from negligent business practices that are alleged in the lawsuit, along with unspecified costs, restitution and damages.
“Financial institutions often incur the costs of fraud due to others’ data breaches,” Summit said in a statement issued Friday. “Equifax may be the largest compromise in U.S. history, and we believe Equifax should cover any losses incurred due to their breach.”
On another note, if you want a job right now, get into IT security.