Image can be found at: https://i.cbc.ca/1.4300966.1506020660!/fileImage/httpImage/image.jpg_gen/derivatives/16x9_620/equifax-cyber.jpg

Are Cyber Attacks Making Big Data a Weak Investment?

October 12, 2017
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In a world that is becoming more technologically dependant every day, our networks and identities have never felt more vulnerable. Numerous hacks have left an indelible mark on the vulnerability of our current cyber security. A recent article from Fox Business writes that:

The number of U.S. data breaches jumped to a record 791 in the first six months of 2017, according to the nonprofit Identity Theft Resource Center and data security firm CyberScout. That is a 29% jump from the same period last year.

The problem only seems to be getting worse. Just as they were getting over another serious data breach, the CBC reports that

…an independent security analyst on Wednesday found part of Equifax’s website was under the control of attackers trying to trick visitors into installing fraudulent Adobe Flash updates that could infect computers with malware,

This new breach has already forced Equifax stock down even further. The situation is becoming dire for the company, as more and more bad news threatens to put them into another free fall.

However, this issue goes beyond just Equifax. As cyber attacks become more prevalent and with the situation in North Korea heating up, is it not possible that the problem will only get worse? The DPRK has already demonstrated its willingness to use cyber warfare when they allegedly attacked Sony in 2014, more companies could find themselves under fire in the future.

While Fox Business does write that many CEO’s are making efforts to boost cyber security, the new reality is that the internet and networks are not as safe as they once were. Investors should consider the vulnerability of companies to such attacks when making their investments. You do not want to find yourself in the same place as Equifax has.

To read Fox Business’ article on CEO’s new focus on cyber security, click here.

To read the CBC’s article on the latest Equifax hack, [grwebform url=”https://app.getresponse.com/view_webform_v2.js?u=BKTzq&webforms_id=14431602″ css=”on” center=”off” center_margin=”200″/]

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