Equifax Releases 2022 Security Annual Report

Rhea-AI Summary

Equifax (NYSE: EFX) released its 2022 Security Annual Report, emphasizing its advancements in cybersecurity and partnerships. The report highlights Equifax's multi-cloud security measures, risk-based reporting, and compliance achievements, including U.S. HIPAA compliance and Government of Canada clearance. It ranked in the top 1% of Technology and top 3% of Financial Services companies for cybersecurity maturity. The company committed to enhancing security through collaboration with government and industry partners, promoting transparency, and innovating to address cybersecurity challenges.

Positive

• Achieved multi-cloud environment security parity.
• Ranked in the top 1% of Technology companies for cybersecurity maturity.
• Obtained U.S. HIPAA compliance for two key environments.
• Established partnerships with government agencies and security vendors.

Negative

• None.

Third Annual Report Demonstrates Company's Leadership in Cybersecurity and Commitment to Ongoing Industry Innovation

ATLANTA, March 21, 2023 /PRNewswire/ -- Equifax® (NYSE: EFX) today released its 2022 Security Annual Report, highlighting the year's accomplishments and future challenges for the industry in cybersecurity. The third annual report reflects Equifax's enhanced security transparency measures, expansion of the company's public-private security partnerships, and joint innovation with vendors to augment its security toolset and bring new capabilities to the broader market.

"In 2022, we shifted from an era of building the Equifax Cloud™ to securely leveraging the Cloud for innovation and growth," said Mark W. Begor, CEO of Equifax. "As we have grown and innovated to meet the evolving needs of global consumers and customers, we have also committed to partnering with them in new ways. Cybersecurity is critical to that partnership. We believe that more communication, more collaboration, and more transparency, equals stronger security and are committed to helping customers, partners and consumers strengthen their own cybersecurity postures for the benefit of the industry at large."

Over the past year, Equifax achieved multi-cloud environment security parity; established tiered control priority and risk-based reporting for its acquisition processes; expanded its personalized Security Scorecards to include Equifax contractors; earned U.S. Health Insurance Portability and Accountability Act (HIPAA) compliance for two key environments; and obtained Secret Facility Security Clearance from the Government of Canada.

"The 2022 threat landscape presented challenges none of us can solve alone," said Jamil Farshchi, Executive Vice President and Chief Information Security Officer of Equifax. "Our answer to this is partnership. Equifax has established a bold vision to address some of security's most intractable challenges and worked cooperatively over the last year to shape security behaviors, technologies and practices alongside the security vendor community, government agencies, nonprofits, peers and leaders in board of directors governance."

For a third-consecutive year, a leading global research and advisory firm found that the maturity of Equifax's cybersecurity program exceeded every major industry benchmark. Additionally, a leading cybersecurity reporting service found that Equifax's security posture ranked in the top 1 percent of Technology companies and top 3 percent of Financial Services companies analyzed.

The Report also highlights Equifax's emphasis on security collaboration and transparency in 2022:

• Co-innovating with vendors to bring training, supply chain security, governance and authentication solutions to market that drive the entire industry forward.
• Advancing public-private cooperation by engaging with legislators, government agencies, NGOs and regulators including the Federal Bureau of Investigation, the Bipartisan Policy Center, the Costa Rica Cyber Security Cluster and Chilean Cybersecurity Alliance.
• Sharing Equifax's board partnership blueprint with members of organizations such as the National Association of Corporate Directors, the New York Stock Exchange (NYSE) Board Advisory Council and the EY Audit Committee Network.

To view the full 2022 Security Annual Report, please visit Equifax.com.

ABOUT EQUIFAX INC.
At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 14,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com.

FOR MORE INFORMATION
Ben Lord for Equifax
MediaInquiries@equifax.com 

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SOURCE Equifax Inc.

FAQ

What were the key highlights of Equifax's 2022 Security Annual Report?

Equifax's report showcased advancements in cybersecurity, including multi-cloud security, compliance with U.S. HIPAA, and ranking in the top 1% for cybersecurity maturity.

How did Equifax improve its cybersecurity posture in 2022?

Equifax enhanced its cybersecurity through partnerships, risk-based reporting, and expanding its security toolset across various sectors.

What compliance achievements did Equifax accomplish?

Equifax achieved U.S. HIPAA compliance and obtained Secret Facility Security Clearance from the Government of Canada.

How does Equifax rank compared to other companies in the cybersecurity space?

Equifax was recognized in the top 1% of Technology companies and top 3% of Financial Services companies for its cybersecurity program.