Equifax invests $1.25 Billion in Cloud Security

US Credit Reporting Agency Equifax has made it official that it is going to invest $1.2 billion in cloud security business through the C3M cloud partner. The company which hit news headlines for a data breach now seems to desire to become a leader in data security

 

“For us, security has become paramount and Equifax wants to transform with its cloud-first strategy”, said Jamil Farshchi, Chief Information Security Officer at Equifax.

 

C3M which is known as a cloud control, management, and compliance player will help Equifax to monitor and secure its cloud assets in real-time. For instance, if a misconfiguration blunder is committed on a cloud instance by ignoring basic security rules, C3M will help track down these security blunders in time and will disallow them from happening says Farshchi.

 

At the same time on contrary to the false belief that cloud transformation makes companies lose visibility and control over their assets and operations, Farshchi said that it helps organizations gain far more visibility and control over the conventional security controls with the help of the technologies provided by C3M.

 

Note 1- In September’17, Equifax announced that a data breach occurred on its servers between mid-May and July’17 leaking personal info related to 145.5 million US Equifax customers which include credit card details of 209,000 consumers. In Feb 2018, a representative of the Financial services firm said that an investigation made at the end of 2017 revealed that info of an additional 2.4 million US customers was also affected in the breach. Since then and after observing a lot of developments in its data storage scenarios the company decided to go for a

 

Note 2- In Oct’19 Equifax announced that it is going to become data center free within the next couple of years as it aims to transmit all its data assets to the cloud. The company also disclosed at the Gartner’s IT Symposium Conference that it is going to rely on a cloud dispersal model for all its data storage and analytics needs and has made an agreement with AWS, Microsoft, and Google in this regards.

 

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Naveen Goud
Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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