UK officials have slapped Equifax with a £500,000 (US$660,000) fine for failing to protect up to 15 million citizens' personal data. The Information Commissioner's Office (ICO) has announced its verdict after almost a year-long investigation with the Financial Conduct Authority. . Together, they looked into the massive Equifax breach that affected 146 million people around the world. Cybercriminals infiltrated the consumer credit reporting agency's systems by using an exploit on its website to gain access to people's names, addresses, birthdates, SSNs, as well as tax and driver's license information. The link for this article located at Engadget is no longer available. . UK regulators fined Equifax 00,000 for neglecting to protect personal data of 15 million citizens during a massive breach.. Equifax Data Breach, Financial Penalty, Cyber Security, Regulatory Action. . LinuxSecurity.com Team
Security vendor McAfee agreed on Wednesday to pay a $50-million fine to the U.S. Securities and Exchange Commission to settle charges that it overstated its revenue and earnings by hundreds of millions of dollars, closing an unpleasant chapter in the company’s history. . The SEC had charged McAfee with securities fraud for allegedly inflating cumulative net revenue by $622 million during the period between 1998 and 2000. For 1998 alone, McAfee overstated revenues by $562 million, a misstatement of 131 percent, said the SEC. According to the SEC, the scheme unraveled in December 2000 when McAfee announced it would miss its quarterly revenue projection by $190 million. At the time, the stock declined sharply, wiping out more than $1 billion of its market capitalization. McAfee consented to pay the multimillion-dollar penalty to the SEC without admitting or denying the allegations of the complaint. The link for this article located at Red Herring is no longer available. . Yahoo agrees to pay $40 million to resolve allegations of misleading financial statements, marking the end of a crucial investigation.. McAfee Settlement, Fraud Charges, Inflated Revenue. . LinuxSecurity.com Team
Get the latest Linux and open source security news straight to your inbox.