Equifax’s £11M Oopsie: A Pricey Game of Data Hot Potato with the FCA
Equifax played fast and loose with consumer data, serving up a spicy £11,164,400 fine for their sloppy cyber-security sandwich. The FCA isn’t playing games – Equifax’s burnt fingers are a searing testament to that. In this high stakes game of Monopoly, the Equifax data breach lessons are clear: mishandle data, and you’re bound to get grilled.
Hot Take:
Equifax got served a spicy £11,164,400 fine for making a sloppy cyber-security sandwich. They passed the UK consumer data, like a hot potato, to their parent company in the US, who then dropped it in the hands of hackers. It's like playing a high stakes game of Monopoly where Equifax landed on the 'Go to Jail' square, only to find out the jail is a real-life financial penalty. The FCA (Financial Conduct Authority) is not playing games when it comes to protecting consumer data, and Equifax just learned that the hard way.Already a member? Log in here