Equifax's Negligence Was Worse Than They Admitted

[xcvbn]

http://www.zdnet.com/article/hackers-stole-more-equifax-data-than-first-thought/

Equifax says more private data was stolen in 2017 breach than first revealed

Hackers stole more data from Equifax in a breach last year than initially thought.

In September, the Atlanta, GA-based credit giant revealed a huge data breach, including names, social security numbers, birth dates, home addresses, and in some cases driver's license numbers. It was later confirmed over 145 million were affected, primarily Americans, but also some Canadians and British citizens.

The hack became the largest single data breach reported in 2017.

But documents seen by members of the Senate Banking Committee suggest the types of data stolen were wider than the company first reported.

A letter published Friday by committee member Sen. Elizabeth Warren (D-MA) to acting Equifax chief executive Paulino do Rego Barros summarized the senator's five-month investigation into the Equifax breach, which said tax identification numbers (TINs), email addresses, and additional license information -- such as issue dates and by which state -- were not originally disclosed,

It's absolutely absurd that we do not own and solely control our most private information- that every adult who has even a phone bill or electric bill in their name is subject to some central entity being in possession of their SSN, street address, job history, etc. And we are forced to blindly trust them to protect that information for which there is no recourse or consequence for mishandling.

Sen. Warren with the bill proposing "$100 fine per victim" isn't doing fuck all. This negligence is unprecedented- demand blood and don't stop until you get it. Equifax should be forced to liquidate all assets, the top executives should be forced to liquidate all personal assets, it should all be divided up for each affected "customer," then those execs should be sent to prison.


Decentralizing personal data through distributed ledger technology cannot happen soon enough.

 

[7437]

So glad we arent going to investigate or fine this upstanding company. If anything, less regulation is needed.

Seriously though, Warren's idea is fine. Thats a 14.5 billion dollar fine, it would level the company. Which should happen.

 

[xcvbn]

So glad we arent going to investigate or fine this upstanding company. If anything, less regulation is needed.

Seriously though, Warren's idea is fine. Thats a 14.5 billion dollar fine, it would level the company. Which should happen.

Let me ask you a philosophical question: Is your private information(SSN, email(likely one you use for banking/loans), home address(s), birthdate, and driver's license) all wrapped up in one sweet file worth more or less than $100? If so, how much would you be willing to sell it for?

I'm sure there's many people affected by this breach who have a lot to lose and would have otherwise been more than willing to pay out the ass to have it better secured. I sure as fuck would have. Interestingly, Equifax was quick to suggest credit monitoring for a monthly fee just after they were hacked.

The worst part is that the hackers can just sit on this information, most of which you cannot change, for years until they decide to apply for a loan or two in some Joe's name.

 

[7437]

Let me ask you a philosophical question: Is your private information(SSN, email(likely one you use for banking/loans), home address(s), birthdate, and driver's license) all wrapped up in one sweet file worth more or less than $100? If so, how much would you be willing to sell it for?

I'm sure there's many people affected by this breach who have a lot to lose and would have otherwise been more than willing to pay out the ass to have it better secured. I sure as fuck would have. Interestingly, Equifax was quick to suggest credit monitoring for a monthly fee just after they were hacked.

The worst part is that the hackers can just sit on this information, most of which you cannot change, for years until they decide to apply for a loan or two in some Joe's name.

Maybe you dont understand. Equifax has a market cap of 13 billion dollars. If you asked for 10 billion for each affected person the result would be the same adls asking for 100. It just bankrupts the company, thry dont have that much. Anything more than that is trying to get blood from a stone .

 

[Fluffernutter]

https://en.wikipedia.org/wiki/List_of_cyberattacks

 

[uncommon]

Maybe you dont understand. Equifax has a market cap of 13 billion dollars. If you asked for 10 billion for each affected person the result would be the same adls asking for 100. It just bankrupts the company, thry dont have that much. Anything more than that is trying to get blood from a stone .

if their marketcap is 13 billion the chances are that tangible assets (cash, real estate ect.) are well under 1 billion.

the 13 billion is the cost to purchase their earning power its not money they actually have.

a 10 billion dollar penalty on a 13 billion marketcap would bankrupt them multiple times over if i had to guess.

 

[HomerThompson]

http://www.zdnet.com/article/hackers-stole-more-equifax-data-than-first-thought/

Equifax says more private data was stolen in 2017 breach than first revealed




It's absolutely absurd that we do not own and solely control our most private information- that every adult who has even a phone bill or electric bill in their name is subject to some central entity being in possession of their SSN, street address, job history, etc. And we are forced to blindly trust them to protect that information for which there is no recourse or consequence for mishandling.

Sen. Warren with the bill proposing "$100 fine per victim" isn't doing fuck all. This negligence is unprecedented- demand blood and don't stop until you get it. Equifax should be forced to liquidate all assets, the top executives should be forced to liquidate all personal assets, it should all be divided up for each affected "customer," then those execs should be sent to prison.


Decentralizing personal data through distributed ledger technology cannot happen soon enough.

Luckily:

WASHINGTON (Reuters) - Mick Mulvaney, head of the Consumer Financial Protection Bureau, has pulled back from a full-scale probe of how Equifax Inc failed to protect the personal data of millions of consumers, according to people familiar with the matter.


https://www.reuters.com/article/us-...uifax-probe-on-ice-sources-idUSKBN1FP0IZ?il=0


Now looking to let Equifax completely off the hook.

 

[hillelslovak87]

Luckily:

They helped the consumer even more when they made it impossible for private US citizens to sue Equifax or any other lender when a breach like this happens again. Drain that swamp with a bog.

 

[Fawlty]

I don't think anything serious will happen to Equifax in this regulatory environment.

 

[Trotsky]

I don't think anything serious will happen to Equifax in this regulatory environment.

Call me crazy, but sometimes I think the Republican Party is cartoonishly corrupt and don't give a shit about their constituents. Lol @ the party of private property and privacy rights, not that American conservatives have ever actually been on the side of privacy.

 

[xcvbn]

Maybe you dont understand. Equifax has a market cap of 13 billion dollars. If you asked for 10 billion for each affected person the result would be the same adls asking for 100. It just bankrupts the company, thry dont have that much. Anything more than that is trying to get blood from a stone .

That's the point. Set the precedent for how much people's private information is worth.

 

[ShadowRun]

Call me crazy, but sometimes I think the Republican Party is cartoonishly corrupt and don't give a shit about their constituents. Lol @ the party of private property and privacy rights, not that American conservatives have ever actually been on the side of privacy.

'The View' star Joy Behar: 'As a Democrat, I am offended by Republicans'

 

[Quipling]

That's the point. Set the precedent for how much people's private information is worth.

That's not how precedents work, Jesus. Damage awards are not binding on future claims.

 

[Trotsky]

'The View' star Joy Behar: 'As a Democrat, I am offended by Republicans'

Okay?

 

[jefferz]

I don't think anything serious will happen to Equifax in this regulatory environment.

The IRS gave them a no bid contract after the hack became public.
https://arstechnica.com/tech-policy...-taxpayer-identity-contract-weeks-after-hack/

 

[aitkenmike]

http://www.zdnet.com/article/hackers-stole-more-equifax-data-than-first-thought/

Equifax says more private data was stolen in 2017 breach than first revealed




It's absolutely absurd that we do not own and solely control our most private information- that every adult who has even a phone bill or electric bill in their name is subject to some central entity being in possession of their SSN, street address, job history, etc. And we are forced to blindly trust them to protect that information for which there is no recourse or consequence for mishandling.

Sen. Warren with the bill proposing "$100 fine per victim" isn't doing fuck all. This negligence is unprecedented- demand blood and don't stop until you get it. Equifax should be forced to liquidate all assets, the top executives should be forced to liquidate all personal assets, it should all be divided up for each affected "customer," then those execs should be sent to prison.


Decentralizing personal data through distributed ledger technology cannot happen soon enough.

It's OK the Consumer Financial Protection Bureau has got this...

https://www.reuters.com/article/us-...ts-equifax-probe-on-ice-sources-idUSKBN1FP0IZ

 

[Stoic1]

I would like to see our president do something in our interests. Take a stand on this issue. FFS - give it a tweet at least.

 

[Andy Capp]

I would like to see our president do something in our interests. Take a stand on this issue. FFS - give it a tweet at least.

No one is paying him to care about this.

 

[Lead]

Let me ask you a philosophical question: Is your private information(SSN, email(likely one you use for banking/loans), home address(s), birthdate, and driver's license) all wrapped up in one sweet file worth more or less than $100? If so, how much would you be willing to sell it for?

I'm sure there's many people affected by this breach who have a lot to lose and would have otherwise been more than willing to pay out the ass to have it better secured. I sure as fuck would have. Interestingly, Equifax was quick to suggest credit monitoring for a monthly fee just after they were hacked.

The worst part is that the hackers can just sit on this information, most of which you cannot change, for years until they decide to apply for a loan or two in some Joe's name.

Yea, I think most of the outrage here is they not only ran into any discipline for this but they actually are attempting to profit now. They had a page where you could see if you were one of the people affected and all it did was send a generic answer back pretty much saying "maybe" and then they use your email to try to sell product afterwards There isn't a shred of guilt with what happened in that company and when nothing is being done about that, you know shit is messed up. These agencies aren't as useful/strong as they were meant to be.

 

[Lead]

No one is paying him to care about this.

Watch those White House online petitions turn more into a GoFundMe type event, where if the people who care enough bribe the WH a certain threshold, they will try to look into it and get the cash if they complete the mission.