During last week's Equifax earnings call, the company said it expects $439 million in breach related expenses by the end of 2018—and the costs do not end there.
Dr. Larry Ponemon told Reuters over the weekend, "It looks like this will be the most expensive data breach in history.” Ponemon will present the opening keynote at day 2 of SecureWorld Boston. The two-day cybersecurity conference is March 14-15, 2018.
Ponemon says it's likely costs for the Equifax breach will top $600 million, although some of that cost will be picked up by insurance.
Only half have checked their credit following Equifax mega breach
Also of interest is a report cited by CIBI that found information that would warm an identity thieve's heart.
"Have you checked your credit score recently? Probably not. Half of U.S. adults in a new survey said they have not looked at their credit report or credit score since a huge data breach last year at credit scoring company Equifax."
The study also found there was one demographic group most likely to not even be aware Equifax was breached: millennials.
Public awareness or not, the costs will continue to mount for Equifax. Just last week it announced it had been able to identify 2.4 million additional breach victims.
