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Equifax Data Breach affects 143 milion people!


Jon L
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Wondering how people have responded to this news? It's rather annoying Equifax took 40 days to admit to the breach and then offers half-ass and confusing assistance to consumers, which requires consumers to go through arbitration in case of dispute.  

https://www.cnbc.com/2017/09/08/equifax-response-to-data-breach-leaves-many-consumers-confused.html

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Chipped cards are a lot more secure (approximately 7x) if you also require a PIN, which is how it's done everywhere else in the world. US banks and retailers didn't want to sink the money into becoming compliant when they could spend a fraction of the amount buying regulators and congressmen to keep delaying implementation of the standard. One argument frequently deployed by the financial services industry -- and I'm not joking -- is that Americans are too stupid to remember another 4-digit code.

https://qz.com/717876/the-chip-card-transition-in-the-us-has-been-a-disaster/

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Indeed.

Predicted (check article dates)

 

"“Visa [which last year told me rather vehemently that chip and signature was quite enough for the American market] has pushed PIN in other geographies. The investment is already there. If you look at the U.S. market, we have a unique set of consumers. As one issuer put it —’We are not convinced Americans can learn to do two new things at once.’ ” Sadly she did not name the source of that comment."

 

https://www.forbes.com/sites/tomgroenfeldt/2014/06/23/more-secure-credit-cards-with-chips-coming-to-the-u-s/

 

"You're about to get a new credit card ... and it's an epic failure"

 

 

http://money.cnn.com/2015/03/25/technology/credit-card-chips-hackers/index.html

 

 

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"The Fair Credit Reporting Act (FCRA) requires each of the nationwide credit reporting companies — Equifax, Experian, and TransUnion — to provide you with a free copy of your credit report, at your request, once every 12 months. The FCRA promotes the accuracy and privacy of information in the files of the nation’s credit reporting companies. The Federal Trade Commission (FTC), the nation’s consumer protection agency, enforces the FCRA with respect to credit reporting companies"

https://www.consumer.ftc.gov/articles/0155-free-credit-reports

so 

https://www.annualcreditreport.com/index.action

and then stagger the requests four months apart ... start with Equifax now ...

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Sorry to hear CJ, hope things can be resolved OK.....!!

Just processed Credit Freezes with my wife tonight.  Still looking into further services.

AAA offers free and cheap options if you are a member.  The free option covers one agency monitoring plus some extras, but combined with the freezes may be fine for us.  The "full" version is under $10/month.  AARP, Sam's Club, etc., also have, but best to check online for ratings/reviews.

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Indeed.

400K Brits impacted due to a "process failure"

"Regrettably, the investigation shows that a file containing UK consumer information may potentially have been accessed. This was due to a process failure, corrected in 2016, which led to a limited amount of UK data being stored in the US between 2011 and 2016."

(so five years before they realized that mistake?) 

https://www.theregister.co.uk/2017/09/15/equifax_uk_breach_statement/

watch this space ...

http://thehill.com/policy/cybersecurity/350517-equifax-ceo-formally-called-to-testify-before-congress

Probably why they retired their Chief Security Officer, and made them an un-person

http://www.marketwatch.com/story/equifax-ceo-hired-a-music-major-as-the-companys-chief-security-officer-2017-09-15

"Nobody knew security could be so complicated"

Why using SSNs for identification is risky and stupid. (from 2009)

http://www.slate.com/articles/technology/webhead/2009/07/no_you_cant_have_my_social_security_number.html

Edited by Grahame
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