Further to our discussion of intangible or hidden risk, please search the annual reports or management reports [what is publicly available on the internet] of one of these credit agencies prior to February 2017 to determine the importance, level of priority and attention the company placed on protection of confidentiality records and data sources, cyber security investment and preventive steps taken to undermine the potential for hacking and to prevent data breaches. Did they discuss the amount of money spent or levels of security to protect their sources? Was this priority one in their business strategy? Did they care? Knowing what you know now about the 160 million names that were breached in the UK and US, do you think if you were in charge that you would have been done more to protect the reputational capital of the enterprise? More recently a medical records company was hacked and consumer medical records were extracted….even more recently a law firm’s documents were accessed, including litigation documents [1/2/2022]. But the Equifax security breach is one of the most public examples of cyber theft.
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