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Equifax Downgraded, Huawei Ban, Google is Tracking Your Purchases
This is your Shared Security Weekly Blaze for May 27th 2019 with your host, Tom Eston. In this week’s episode: Investment firm Moody’s downgrades Equifax, Huawei’s US technology ban, and how Google is tracking all your purchases.
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Hi everyone, welcome to the Shared Security Weekly Blaze where we update you on the top 3 cybersecurity and privacy topics from the week. These podcasts are published every Monday and are 15 minutes or less quickly giving you “news that you can use”.
Equifax was back in the news late last week with the announcement that Moody’s has cut its rating outlook for Equifax, from stable to negative, because of their massive data breach of 146 million users which took place in 2017. This is the first time that a company has had its investment rating downgraded because of a data breach. Moody’s noted that the downgrade was due to the large expense that Equifax has had to pay such as $786.8 million in general costs, $82.8 million is data security costs, $12.5 million in legal fees, and $1.5 million in product liability charges.
If you’re not familiar with the details about the Equifax breach we’ll have a link in our show notes to one of our previous episodes on the topic, but for a short recap, Equifax was breached due to a well-known vulnerability in Apache Struts that remained unpatched on an Equifax server. The breach could have been preventable since the patch for the vulnerability was released two months prior to the breach.
Unless you work for Equifax, this is actually really good news and honestly I’m not feeling that sorry for Equifax. I’ve always said that until companies are held financially accountable for poor security, we will continue to see more breaches and unfortunately, more massive ones like Equifax.
A few weeks ago the Trump administration banned US companies from doing business with the Chinese telecom giant, Huawei. This ban resulted in Google and many other tech firms halting business with them. While there has been no evidence produced or further details provided by the US government regarding the Huawei ban, Huawei in the past has been accused of intellectual property violations and theft of trade secrets not that long ago, not to mention some potential ties to the Chinese communist party.
Now last week chip designer ARM has officially suspended all business with Huawei. This is a huge blow and will prevent Huawei from creating their own chips. What’s interesting is that ARM is based in the UK and owned by a Japanese company. However, ARM develops some possessors in the US which they feel put them in hot water with the US government if ARM was to continue selling to Huawei.
Look from a cybersecurity perspective, my take is this has something to do with the potential and perhaps past evidence of Chinese spying on the US. The biggest issue is that Huawei is the one of the main suppliers for the technology that cell towers use
Published on 6 years, 7 months ago