Equifax had another data breach
09-14-2017, 09:31 AM
#1
Senior Member
Thread Starter
Join Date: May 2002
Location: Alabama
Posts: 429
Likes: 0
Received 0 Likes
on
0 Posts
Vehicle: 2003 Accent
Equifax had another data breach
http://www.bbc.com/news/technology-41257576
This time, they figured out that the online employee tool could be accessed by using "admin" as the username and password
DUMB -- ASSES!!!
This time, they figured out that the online employee tool could be accessed by using "admin" as the username and password
DUMB -- ASSES!!!
09-14-2017, 03:14 PM
#3
Junior Member
Join Date: Aug 2002
Location: Cleveland
Posts: 17
Likes: 0
Received 0 Likes
on
0 Posts
Vehicle: 2003 Elantra
The hack probably wont affect many people in the US since this was Argentina but it's still another black mark on how shitty their security is.
09-14-2017, 09:21 PM
#4
Super Moderator
Hopefully this leads to reform in the way peoples' data are collected without their consent and used without their knowledge for their benefit or detriment by third parties, all over the world. Hopefully in a non-intrusive way that is transparent to people who just want to buy a couch with that sweet 0% for 18 months deal.
09-15-2017, 05:51 AM
#5
Moderator
That is why we should all understand that we are NOT their customers! We do not go to them to ask for their business and we do not have all the buyer protections that one would have in such case. We, as individuals, are a "product" that they collect data on and sell to THEIR customers (banks, businesses, marketers, etc.).
This needs to be something MUCH bigger than Equifax getting reprimanded for screwing up. This needs to be about the government stepping in and protecting our individual rights to privacy and data collection on the people. This needs to be about the one holding the data having a duty to protect that data for the LIFE of the individual, and compensating that individual for damages, for life. Once your data is out there, it is out there until you die, and beyond.
This needs to be something MUCH bigger than Equifax getting reprimanded for screwing up. This needs to be about the government stepping in and protecting our individual rights to privacy and data collection on the people. This needs to be about the one holding the data having a duty to protect that data for the LIFE of the individual, and compensating that individual for damages, for life. Once your data is out there, it is out there until you die, and beyond.
09-15-2017, 06:06 AM
#6
Administrator
Imagine the backlash though if tomorrow the Government signs into law saying that no business shall hold a person's private information without their prior consent and no business shall sell your info with any consent, or else they will face millions of dollars in fines and fee's. Do you realize how many companies would have to shut down because no one would agree to it. I personally would love it if something like that happened, but it never will. Those big companies will throw millions of dollars to the politicians as bribes to get them to not ever do anything like that.
09-15-2017, 10:31 AM
#7
Administrator
Schumer: If Equifax execs don't fix things, or resign, I'll shut them down
Senator Chuck Schumer says Equifax executives have to take steps to fix the mess resulting after a massive data breach at the company or resign. If they don't do that, Schumer says he will look to shut the company down.
Last week, the corporation revealed that 143 million people were impacted by the hack. As a result, millions of consumers have rushed to protect their credit in the aftermath.
Thursday on Twitter, Sen. Schumer called the breach "one of the most egregious examples of corporate malfeasance since Enron."
"This is outrageous," Schumer told News10NBC during a phone interview. "This is not the first time that Equifax was breached and they're a company that makes money by holding people's information, so they have a special obligation to make sure it is as secure as possible."
He adds, "Not only did Equifax not make it as secure as possible, but once they found out about it, they didn't tell customers and they're not treating customers right."
Schumer says he called on Equifax to reach out to people who are impacted by the breach and help them protect themselves. He also wants the company to provide free credit monitoring for ten years. Right now, the company is only offering one year of monitoring.
He also wants Equifax to "come clean" about previous breaches.
"If they don't do this, I've demanded the CEO and entire board step down," Schumer said. "If they don't correct things very quickly, I give them a week, they should all step down."
"If that doesn't happen," he says, "I'm going to look for legislation to shut Equifax down."
Senator Chuck Schumer says Equifax executives have to take steps to fix the mess resulting after a massive data breach at the company or resign. If they don't do that, Schumer says he will look to shut the company down.
Last week, the corporation revealed that 143 million people were impacted by the hack. As a result, millions of consumers have rushed to protect their credit in the aftermath.
Thursday on Twitter, Sen. Schumer called the breach "one of the most egregious examples of corporate malfeasance since Enron."
"This is outrageous," Schumer told News10NBC during a phone interview. "This is not the first time that Equifax was breached and they're a company that makes money by holding people's information, so they have a special obligation to make sure it is as secure as possible."
He adds, "Not only did Equifax not make it as secure as possible, but once they found out about it, they didn't tell customers and they're not treating customers right."
Schumer says he called on Equifax to reach out to people who are impacted by the breach and help them protect themselves. He also wants the company to provide free credit monitoring for ten years. Right now, the company is only offering one year of monitoring.
He also wants Equifax to "come clean" about previous breaches.
"If they don't do this, I've demanded the CEO and entire board step down," Schumer said. "If they don't correct things very quickly, I give them a week, they should all step down."
"If that doesn't happen," he says, "I'm going to look for legislation to shut Equifax down."
Let's say they don't rollover to Schumer's threats and he does somehow shut them down. That obviously then means there will be 2 major credit bureaus versus the 3. I'm sure that would effect peoples credit in some way also since all 3 companies give different scores.
09-15-2017, 11:36 AM
#8
Moderator
These companies don't give scores. They mostly only provide the background data to produce a score. In reality, they are now trying to whore out the same "Vantage" scoring model, but no one cares to use it. Not the public, or the banks. Banks don't use Vantage, they use different variations of FICO. If your FICO/Vantage score is different, then it's because your EX/TU/EQ report shows something different. Could be as simple as your bank forgetting to report May's positive payment history to one of the 3.
If Equifax shuts down, there are still Trans Union, Experian, and someone else will eventually step up. There are dozens of other credit agencies willing to step up:
https://wallethub.com/edu/credit-rep...8/#alternative
If Equifax shuts down, there are still Trans Union, Experian, and someone else will eventually step up. There are dozens of other credit agencies willing to step up:
https://wallethub.com/edu/credit-rep...8/#alternative
09-26-2017, 11:34 AM
#9
Moderator
The irony in this just came out. They're saying that the breach most likely happened through their credit monitoring system. 
And for more crappy news, their stock has started to come back up. Short memory spans....
And for more crappy news, their stock has started to come back up. Short memory spans....
09-27-2017, 07:50 PM
#10
Super Moderator
Short memory? More like short term gains. The stock was bound to fall temporarily and then rebound. For someone who trades frequently the rebound is a great way to profit on a nearly sure bet.