Equifax paints itself as a cybersecurity leader now
Nearly three years after its massive breach, Equifax says it has a lot to teach the industry. Will experts buy it?
Yes, Equifax wants to talk about cybersecurity.
The credit reporting firm that suffered a colossal data breach in 2017 that exposed personal, sensitive data on 147 million people is making a deliberate effort to be front-and-center at this year's RSA conference in San Francisco. Executives from the company will be speaking on seven panels, and chief technology officer Bryson Koehler and chief information security officer Jamil Farshchi, delivered a joint keynote Monday afternoon.
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"We know we've been through something that few other organizations have, and we know we're taking a bold stand in our way of addressing it," Farshchi told Protocol in an interview before the event.
Unlike many of RSA's more than 40,000 attendees, Equifax isn't at the conference exclusively to learn. Instead, the company is pitching itself as a bonafide leader in cybersecurity that others should follow.
"Our goal is to say it's not just us, everyone is dealing with these threats, and the more we can share and the more we can teach you all, the better chance we have of being able to lift all boats in this space," Farshchi said.
Both Farshchi and Bryson Koehler said they're irked by the cybersecurity mistakes they see other companies make. One of them is "toolitis": the affliction of thinking that buying more tools will solve your problem," said Koehler.
"It happens all the time, it's so frustrating … people love the shiny toys and think whatever new tool is out there — artificial intelligence, blockchain applications — is going to solve all your problems," Farshchi said. "The solutions are staring you right in the face, and it's frustrating because we see so many folks in tech and security that aren't focused on what we think are the fundamentals."
Other common issues they see are companies that bolt cybersecurity solutions onto the organization instead of building them in from the beginning, and a lack of alignment between the cybersecurity team and the rest of the business.
"You'll find in every security organization out there the notion that it's two separate teams with different incentives marching towards different goals, but we ultimately should be striving toward the same thing," Farshchi said.
In addition to calling the company a leader in cybersecurity, the executives said Equifax has "best in class" patching practices and has a goal of making "the world a better, safer, more secure place"
This confidence may come off as puzzling to other professionals, said Ann Cleaveland, executive director of UC Berkeley's Center for Long-Term Cybersecurity. Companies rarely brag about being cybersecurity leaders because "it immediately paints a target on your back," she said.
Additionally, Cleaveland expects that many cybersecurity experts will be skeptical of the company's claims, given its history. "If their efforts now are genuinely about helping the industry learn from what they've learned, good for them," she said. "But a lot of people are going to see it as marketing."
In their Monday keynote, Koehler seemed to expect some doubt, inviting audience members' toughest assessments during a Q&A. But most of the questions were largely technical.
Farshchi and Koehler argue that there are plenty of reasons to take them seriously. Few security teams have dealt with an incident like the one they experienced, so there's a lot of lessons to be learned from the recovery efforts, they say.
Federal prosecutors said earlier this month that Chinese military hackers were behind the breach in 2017 that compromised personal data including names, birth dates and Social Security numbers of 145 million Americans. The hackers were also able to steal drivers license numbers for at least 10 million Americans, and credit card details for 200,000 Americans.
The attackers were able to access the data by exploiting a software vulnerability in Equifax's online dispute portal. A patch for the vulnerability had existed for months, but Equifax did not implement it. A 67-page investigation report from a Senate panel last March blamed the incident on Equifax's negligence.
The company has made huge cybersecurity investments and changes since the breach to reassure shareholders, customers and employees that it won't make the same mistakes twice.
The company has hired about 1,000 technology and cybersecurity specialists since the breach and committed $1.25 billion to security improvements, Farshchi said. The company's leadership has also changed. The company's CEO Richard Smith and several technology chiefs left the company in the weeks after the breach was announced. Both Farshchi and Koehler were hired in 2018, from Home Depot and IBM, respectively. Equifax changed its reporting line so that Farshchi and his team reports directly to CEO Mark Begor. They've also focused on making all employees feel responsible for cybersecurity by adding things like security measures that tie into employee bonuses.
Koehler said he's had to dismiss groups and replace about a quarter of his team for not taking security policies seriously. "We've had to break some glass to change and shift," he said.
Farshchi said he hopes that these efforts can serve as an example to the broader cybersecurity industry.
"I can't think of any other company that has been as forward-facing as Equifax has been. …" he said. "The ultimate goal [for us at RSA] isn't a self-serving one. It's really to try to help the security industry and all the companies trying to defend themselves against all the attackers hitting them every day."