Equifax Security and Information Executives Retire After Data Breach Disclosure

Modesto Morganelli
Settembre 19, 2017

Equifax, one of the nation's largest credit data companies, announced last week that the credit files of almost 150 million people had been hacked. Its case should also spark a federal investigation and possibly more stringent regulations on what financial and credit institutions have to do to protect our personal financial information.

Himes strongly believe that victims should not have to bear the burden of paying for security freezes. "Additionally, consumers, who are at absolutely no fault in this situation, should not have to pay anyone to completely freeze their credit".

However, it has now confirmed that while its United Kingdom systems are unaffected, a file containing the information of United Kingdom consumers was stored in the USA between 2011 and 2016 and "may potentially have been accessed".

As we have discussed in previous posts, Equifax Inc. suffered a cybersecurity breach potentially affecting 143 million individuals in the United States.

More information is available from the Consumer Financial Protection Bureau here. This means that not everyone whose information was leaked is even aware that they are an Equifax "customer".

Equifax has offered a year of credit monitoring for anyone who signs up. However, placing such a freeze should be considered carefully since the lead time needed to unfreeze it may be significant.

Around 209,000 customers had their credit card information leaked during the hack, whilst Equifax then received criticism for their inability to deal with the situation, with a customer service website being labelled "broken" and a "scam".

Equifax announced that its U.S. parent company had been hit by a cyber breach on 7 September, and it set up a website for consumers in the United States of America to determine if their data had been accessed. "And they have very sensitive information", Cuomo said.

"That's bad for them to try to charge you for credit monitoring when they're the ones who caused the reason for you to need to monitor in the first place", says Hood.

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