Equifax Releases 2024 Security Annual Report

Core Insights - Equifax has released its 2024 Security Annual Report, emphasizing its commitment to cybersecurity leadership and innovation, showcasing measures taken to combat modern cyber threats, including a passwordless authentication transformation [1][3] Company Commitment and Strategy - Since 2018, Equifax has focused on establishing itself as a security leader, transforming its organization to integrate security into its culture and operations [2] - The company is leveraging the Equifax Cloud™ and EFX.AI capabilities to drive innovation and future growth, with cybersecurity being a core aspect of its business actions [2] Cybersecurity Landscape and Response - The cybersecurity landscape has become increasingly concerning due to AI-driven threats and geopolitical tensions, prompting Equifax to modernize its defenses and accelerate cloud adoption [4] - Equifax has outperformed major industry benchmarks in security maturity and maintained a security posture score above industry averages in Technology and Financial Services [4] Product Innovation and Security Integration - In 2024, Equifax launched over 100 new product innovations while maintaining a best-in-class security program, highlighting the synergy between security and technology [5] Future Outlook - Security remains a critical strategic priority for Equifax as it continues to evolve its security posture and programs to address emerging cybersecurity threats [6] Performance Metrics - Equifax defends against 15 million cybersecurity threats daily, equating to 175 hostile attempts per second, marking a 25% increase from 2023 [9] - The company has transitioned nearly 22,000 global employees to passwordless authentication, addressing the primary threat of stolen credentials [9] - Equifax completed over 210,000 simulations to test its workforce against cyber tactics, achieving a 2.9% click rate in phishing simulations and a mean detection time of under one minute for potential intrusions [9]