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Thread: Equifax data breach

  1. #1

    Default Equifax data breach

    Surprised I haven't seen anything here yet, but what are thoughts about the data breach at Equifax? They say 143 million records are compromised, which is over 40% of the population here in the United States. Throw in the mix that roughly 20% of our population is below an age where credit agencies would have info on them, and that means over half of the records of us are hit.

    Things to think about:
    1. The data can be used to create credit accounts in your name, though steps such as a credit freeze will limit the ability to do so.
    2. Enough information has been released to identify you to existing companies you have a financial relationship with. This can allow them to call your bank, identify themselves as you, get passwords to online access, debit cards, whatever. A credit freeze will not prevent this. Your accounts can be drained quickly without your knowledge.
    3. A fraudulent tax return can be filed in your name, or someone can get state issued identification to say they are you.

    Personally, I think Equifax should be allowed to fail after this. Additionally, the use of social security numbers as identifiers should be gotten rid of. For everyone, monitor your financial accounts heavily, as well as your credit reports.

    Thoughts?

  2. #2

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    Yup, all you can do is monitor your accounts. I'm once of those exposed, but I'm not too worried about it. It may become a gassle for me later on, but it's not like there's much I can do about it. So why worry.

  3. #3

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    This was already in the works ,by next July everyone will have new ID numbers instead of social security # on Medicare cards ,as far as Equifax Americans were customers of that business just by virtue of being alive , something like 20 attorney general's are already doing the paper work to sue them , the SEC is chomping on there drawers regarding the insider trading squeme that was perpetrated by management before the breach was anounced and there value plumeted ,, plus individuals suing singularly and cumulatively in class actions with there acknoeledged failure to properly patch there servers when the manufacturer sent it to them last year thus leaving a door open to anyone who wanted to hack it, it will be a miracle if they all dont go to jail and the company crashes and burns because it's not just us little people it's the robber barons of wall street who are not happy and going to raise he'll for the unwanted exposure , people are pissed that a billion dollar private company who is making money selling our private data can lose control off said data due to negligence and still exist at best they are in heap of trouble on all sides and may try to build another scumbag company but I think this breach effectively nullifies the brand name going forward , there has been a dirty rumor of them merging with one of the others but that seems illogical because nowone is going to want the liabilty of the hacker haveing left himself secret doors on the system .

    Sent from my SM-T810 using Tapatalk

  4. #4

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    Data breaches are just a reality now, and regardless of scale, it's the same routine. People cry for blood, It's in the news for awhile, the almost criminal level of incompetence is revealed, the companies stock tanks.. eventually apologies are issued, a small number of people actually suffer identity theft, and finally in 4 or 5 months it's a distant memory.

    The system is completely broken, and the financial and credit reporting industry have mostly decided that it's easier to clean up the mess when it fails than it is to fix the root problems. To their credit (no pun intended), identity theft is no longer necessarily the life destroying thing it once was. You monitor your credit report, put a freeze and/or alert on it, dispute any fraudulent charges made on your CCs (and get new CC numbers issued), and life mostly moves on.

    Personally I'm responding to it in the most selfish way possible. I'm buying as much stock (EFX) as I can afford to gamble with. Equifax isn't going anywhere, and like I said, been there.. done that.. no one will remember any of this in a year.
    Last edited by BoundCoder; 23-Sep-2017 at 03:59. Reason: typo

  5. #5

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    My wife and I were compromised as well, and I'm pissed at Equafax, to say the least. We live in an on-line world and with that comes constant data breaches. It's amazing to me that companies do such a poor job of protecting their files. We've notified our investment counselor and our banks, etc. My wife put a stop on our credit at Equafax, if I remember correctly.

  6. #6

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    It really pisses me off. The vulnerability was discovered and patched months ago, and Equifax took their sweet time implementing it and even more time to notify the public. The website they put up to check whether your information was in the leak had some very serious bugs (for one, you could enter any name and number into the fields and it would respond with a yes or no; for another, one white-hat hacker was able to successfully hack into the page and redirect traffic to his own site). There's no real reason any of it should have happened. These are rookie mistakes in the cyber security world.

  7. #7

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    You did see the women who was head of cyber security had an undergrad degree in music from university of Georgia as her credentials, maybe she will be good at her next job.

    Sent from my SM-T810 using Tapatalk

  8. #8

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    Quote Originally Posted by ZenOfBourbon View Post
    It really pisses me off. The vulnerability was discovered and patched months ago, and Equifax took their sweet time implementing it and even more time to notify the public. The website they put up to check whether your information was in the leak had some very serious bugs (for one, you could enter any name and number into the fields and it would respond with a yes or no; for another, one white-hat hacker was able to successfully hack into the page and redirect traffic to his own site). There's no real reason any of it should have happened. These are rookie mistakes in the cyber security world.
    If you read further into it, the vulnerability that was exploited by the hackers wasn't patched at Equifax because they were so far behind with their security patches, they couldn't implement the new patch. Yep, the company that takes all of our personal information and can ruin us financially, a company that we don't sign up to do business with nor do we have a way of opting out of doing business with, those guys are so serious about the security of said data that they can't even implement the latest security patch because they haven't put in place the ones from way back.

    Personally, I want to see the government allow them to crash and burn, and to do so in a hard, public fashion. Of course, our lawmakers are looking in to putting stuff into place to limit the damages that can be had from anyone suing them instead of putting into place protections for us, their constituents. I say that Equifax should die in a massive public show with those responsible there getting their lives ruined. This isn't because I want revenge or anything, but instead to serve as a warning to the other companies that they better not allow something like this to happen on their end.

  9. #9

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    Quote Originally Posted by Tetra View Post
    You did see the women who was head of cyber security had an undergrad degree in music from university of Georgia as her credentials, maybe she will be good at her next job.

    Sent from my SM-T810 using Tapatalk
    Heh, true.

    To be fair, it's getting fairly common to find folks in IT who didn't study computer science. And since Cyber Security directors rarely write code, I'm thinking this had less to do with their IT leadership and more to do with crappy management of their software teams in general.

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