Equifax Releases 2024 Security Annual Report

Equifax® (NYSE: EFX) has released its 2024 Security Annual Report, reinforcing its commitment to transparency, collaboration, and innovation. Now in its fifth year, the report provides insights into the company's ongoing efforts to strengthen security, including an industry-leading transition to passwordless authentication.

“When I joined Equifax in 2018, I made a personal commitment to establish the company as an industry leader in security. Since that time, we have transformed our organization at every level to deliver on that promise, and have built a culture where security is part of our global team’s DNA,” said Mark W. Begor, CEO of Equifax. “As we look ahead, we are building on the strong foundation of the Equifax Cloud™ and our EFX.AI capabilities to drive innovation, new products, and future growth. Importantly, strong cybersecurity is core to each of our business actions.”

Key Highlights from the 2024 Security Annual Report

  • Enhanced Threat Detection: Defended against 15 million cybersecurity threats daily—equivalent to 175 hostile attempts per second—a 25% increase from 2023.
  • Passwordless Authentication: Transitioned nearly 22,000 global employees and contractors to passwordless authentication, eliminating stolen credentials as a security risk.
  • Cybersecurity Preparedness: Conducted over 210,000 simulations to test employee resilience against cyber threats, achieving a 2.9% click rate in targeted phishing simulations.
  • Rapid Threat Detection: Achieved a mean-to-detect time of under one minute against potential intrusions.

“This past year, the industry witnessed a continued increase in AI-driven threats and geopolitical tensions, making the cybersecurity landscape more concerning than ever — and our team didn’t stand still,” said Jamil Farshchi, Chief Technology Officer and Chief Information Security Officer at Equifax. “Instead, we modernized our defenses, accelerated Equifax Cloud adoption, and pushed the boundaries to future-proof the organization against AI impersonation tactics like voice cloning with the deployment of passwordless technology.”

Continued Security Excellence

For the fifth consecutive year, Equifax outperformed major industry benchmarks in security maturity and maintained a security posture score exceeding Technology and Financial Services industry averages. The company also deepened collaboration between security and technology teams, fostering efficiency, enhanced security, and market differentiation.

In 2024, Equifax introduced 100+ new product innovations while maintaining its best-in-class security program. Looking ahead, cybersecurity remains a strategic priority as the company continues evolving its defenses to anticipate and mitigate emerging threats.