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Massive Equifax Hack Shows Cyber Risk to Deposits and Investments Today

goldcore.com / By janskoyles / September 13, 2017

  • 44% of US population affected by Equifax hack
  • Hackers took names, birthdays and addresses, Social Security and driver’s license numbers
  • Steve Mnuchin “concerned about the global financial system and keeping it safe,”
  • Hacks is a reminder of the vulnerabilities created in a connected world
  • Cyber security is a major threat to both banking and financial industry
  • Investors should hold physical gold as insurance against hacking and cyber attacks

Last week 143 million people woke up to the news that a data breach at Equifax has left them wide open to financial and identity fraud.

Readers will have no doubt read about the hacking of credit bureau Equifax. Not only were they slow to deal with the issue but three senior executives (including the CFO) sold almost $2 million worth of stock prior to alerting customers to the security breach.

This is the third time in sixteen months that Equifax has been hacked. It is the umpteenth time there has been a data breach at a company that holds financial and personal information of its customers. Each time millions of people’s data and livelihoods has been put at risk.

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