In September 2017, Equifax experienced an enormous data breach resulting from a cyberattack, with over 148 million people’s sensitive, personally-identifying information exposed. The hack that impacted Equifax resulted from a “failure to use well-known security best practices and a lack of internal controls and routine security reviews,” wrote Fortune.1
Just a few years before, in 2014, JP Morgan Chase experienced "the largest theft of customer data from a U.S. financial institution in history" up to that date, according to then-US Attorney for the Southern District of New York, Preet Bharara.2 This hack was executed by exploiting known vulnerabilities in computer programs used by the company in order to access valuable customer data. As a result of this hack, close to 76 million customers had their sensitive data jeopardized.
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