FTC, SEC raise legal risks surrounding the log4j flaw

Last week, the U.S. Federal Trade Commission (FTC) issued a warning to companies to remediate the serious vulnerability in the popular open-source Java logging package Log4j to avoid future legal action. In issuing its notice, the FTC underscored that organizations have legal obligations “to take reasonable steps to mitigate known software vulnerabilities.”

The FTC also evoked the cautionary tale of credit rating agency Equifax, which in 2017 failed to patch a known vulnerability that irreversibly exposed the personal information of 147 million consumers. Consequently, Equifax was forced to pay up to $700 million as part of a global settlement with the FTC, the Consumer Financial Protection Bureau (CFPB), and 50 U.S. states.

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