Equifax Releases 2024 Security Annual Report
Rhea-AI Summary
Equifax (NYSE: EFX) has published its 2024 Security Annual Report, showcasing its fifth consecutive year of cybersecurity achievements and innovations. The report highlights the company's robust security measures, including:
- Defense against 15 million daily cybersecurity threats (175 attempts per second), marking a 25% increase from 2023
- Implementation of passwordless authentication for nearly 22,000 global employees and contractors
- Completion of 210,000 simulations with a 2.9% click rate in targeted phishing tests
- Achievement of under one-minute mean-to-detect time for potential intrusions
The company outperformed major industry benchmarks in security maturity scores and maintained a security posture exceeding Technology and Financial Services industry averages. In 2024, Equifax launched over 100 new product innovations while maintaining its security standards.
Positive
- Successful defense against 15 million daily cyber threats, demonstrating robust security infrastructure
- Implementation of passwordless authentication across 22,000 employees, reducing security risks
- Outperformed major industry benchmarks in security maturity scores
- Launched 100+ new product innovations while maintaining security standards
- Achieved under one-minute threat detection response time
Negative
- 25% increase in cyber threats compared to 2023, indicating growing security challenges
- 2.9% vulnerability rate in phishing simulations, showing potential security risks
News Market Reaction – EFX
On the day this news was published, EFX gained 0.86%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Fifth Annual Report Illustrates Continued Commitment to Cybersecurity Leadership and Innovation
"When I joined Equifax in 2018, I made a personal commitment to establish the company as an industry leader in security. Since that time, we have transformed our organization at every level to deliver on that promise, and have built a culture where security is part of our global team's DNA," said Mark W. Begor, CEO of Equifax. "As we look ahead, we are building on the strong foundation of the Equifax Cloud™ and our EFX.AI capabilities to drive innovation, new products, and future growth. Importantly, strong cybersecurity is core to each of our business actions."
Key highlights from the 2024 Security Annual Report include:
- Defending against 15 million cybersecurity threats a day, or 175 hostile attempts per second, a
25% increase from 2023, demonstrating the company's robust threat detection and response capabilities. - Transitioning nearly 22,000 global employees and contractors to passwordless authentication, eliminating the number one threat facing security teams today: stolen credentials.
- Completing over 210,000 simulations, testing the company's global workforce against cyber tactics, achieving a click rate of
2.9% in targeted phishing simulations. - Accomplished a mean-to-detect time of under a minute against potential intrusions.
"This past year, the industry witnessed a continued increase in AI-driven threats and geopolitical tensions, making the cybersecurity landscape more concerning than ever — and our team didn't stand still," said Jamil Farshchi, Chief Technology Officer and Chief Information Security Officer at Equifax. "Instead, we modernized our defenses, accelerated Equifax Cloud adoption, and pushed the boundaries to future-proof the organization against AI impersonation tactics like voice cloning with the deployment of passwordless technology."
For the fifth year in a row, the organization outperformed all major industry benchmarks related to its security maturity score. Equifax also maintained a security posture score that exceeded Technology and Financial Services industry averages.
Moreover, the report highlights a strengthened partnership between security and technology, which has helped serve as an engine for efficiency, enhanced security and market differentiation. In 2024, Equifax launched more than 100 new product innovations, while maintaining a best-in-class security program.
Looking ahead to what's next, security remains a critical strategic business priority as the company continues to grow and evolve its security posture and programs to meet and anticipate evolving cybersecurity threats.
For a more in-depth look at the 2024 Security Annual Report, click here.
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
FOR MORE INFORMATION:
Ruby Ramirez for Equifax
MediaInquiries@equifax.com
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SOURCE Equifax Inc.