You may remember the 2017 Equifax data breach. The records of more than 160 million people were exposed, making it one of the largest cybercrimes related to identity theft. Among various other penalties, Equifax was required to pay out $300 million to a fund for victim compensation, $175 million to the states and territories in the agreement, and $100 million to the CFPB in fines. The cause of the data breach? Not updating an open source component on Equifax's website.
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Last year, the Biden administration issued the Executive Order on Improving the Nation's Cybersecurity. What most open source personnel don't realize - yet - is that one of the results of the Executive Order will be a contract requirement to manage open source risks as a mandatory contract term for anyone supplying the Federal Government.
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