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Equifax's push to regain public trust calls for companies to work together

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Geekz Snow
Equifax's push to regain public trust calls for companies to work together

If you don't trust Equifax, the company is willing to bet you will soon.

At the Black Hat cybersecurity conference, Jamil Farschi, Equifax's chief information security officer described how a company could regain the public's trust on Thursday -- just 17 days after the company reached the largest settlement for a data breach.

The credit-monitoring company agreed to pay at least $650 million in a settlement with the US Federal Trade Commission, the Consumer Financial Protection Bureau, 48 states, Washington, DC and Puerto Rico.

In 2017, Equifax suffered one of the largest data breaches in history with hackers stealing sensitive data on as many as 147.7 million Americans.

Two former Equifax executives have been charged with insider trading and its former chief information officer was sentenced to four months in prison in June.

Equifax's former CEO Rick Smith blamed the hack on a single employee who failed to patch the company's servers for a vulnerability the company had been warned about four months prior to the breach.

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Geekz Snow
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