Equifax data breach affecting 143 million people

News just released, breach discovered on July 29. And of course some of their VP's sold massive amounts of shares, I wonder why. Anyway, a lot of people affected

https://www.cnbc.com/2017/09/07/credit-reporting-firm-equifax-says-cybersecurity-incident-could-potentially-affect-143-million-us-consumers.html

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TacoRocket

Which is crazy the scope of all this. Most of us are affected on this. Now that the politicians are involved I wonder what the repercussions for this might be.

Also those people who sold stock are screwed. That is insider trading and the SEC is going to kill them. The company I work for implements stock freezes when important events happen to help employees not commit insider trading accidentally. This will not look good on them at all.

thomas_

They really need to start locking people up and putting companies out of business permanently. There's a legal concept called strict liability. Collecting and storing massive amounts of PII and other Big Data is inherently dangerous due to the aggregation of that data and the type of target that it becomes. If you have a massive data breach, you should go out of business or be put out of business. I'm tired of companies shrugging their shoulders and saying "Ooops".

636-555-3226

No repercussions. Don't be too upset about it - all of those records have been out there for years already, you just don't know it because 1) the company that had that info on you & had it stolen doesn't know about it, or 2) they know about it but didn't tell you or the authorities. In my experience it's about a 50/50 toss up either way. Regardless, your info is already out there, so don't sweat it.

Privacy is dead

mbarrett

thomas_ wrote: »

They really need to start locking people up and putting companies out of business permanently. There's a legal concept called strict liability. Collecting and storing massive amounts of PII and other Big Data is inherently dangerous due to the aggregation of that data and the type of target that it becomes. If you have a massive data breach, you should go out of business or be put out of business. I'm tired of companies shrugging their shoulders and saying "Ooops".

Not only that, but consumers should have some voice here. Equifax doesn't deal directly with consumers for the most part, unless there's some credit issue - they hold everyone's PII but there's not much choice...they need to be more transparent about which banks/companies are using their services, so people have a better idea of who they can choose to trust.

TheFORCE

mbarrett wrote: »

Not only that, but consumers should have some voice here. Equifax doesn't deal directly with consumers for the most part, unless there's some credit issue - they hold everyone's PII but there's not much choice...they need to be more transparent about which banks/companies are using their services, so people have a better idea of who they can choose to trust.

Not only that but consumers should also be made notified when their data is send to these credit companies. We can opt out to a lot of data collection from banks but what about their affiliates and their affiliates. Who knows how many hops that data takes and after how many years.

These type of breaches will bring the downfall of SSN and credit scores and diver licenses. Enter the chip age where you are implanted with a chip the moment you are born and thus creating a real life Matrix like world.

ITSec14

At least they are offering 1 year of identity theft protection! I feel much safer now knowing my identity will be protected! Oh wait....