Equifax Is Finally Getting Kicked in the Money Bags Due to Its Disastrous Hack

The cash Equifax will have to spend in relation to the cyberattack and bolstering its security are going to ding the company’s profits, according to Moodys, which explained in its report that, after next year, Equifax’s “infrastructure investments are likely to remain higher than they had been before the 2017 breach.” “The heightened emphasis on cybersecurity for all data oriented companies, which is especially acute for Equifax, leads us to expect that higher cybersecurity costs will continue to hurt the company’s profit and free cash flow for the foreseeable future,” Moody’s report said. Few people make an informed decision to hand all that data over to companies like Equifax which explains the surprise of many Americans when they found out their data was likely involved in that 2017 breach.

Source: gizmodo.com