Equifax CEO says company 'will make changes' after security breach

Image JUSTIN LANE  EPA-EFE  REX  Shutterstock

What a mess, and I don't mean Hurricane Irma's destructive impact.

(NYSE:EFX) are down by about 12% as of 3:10 p.m. EDT as the company deals with fallout from a data breach that exposed the personal information - including names, addresses, dates of birth, and Social Security numbers - of as many as 143 million people to hackers. Users on Twitter report trying again and again to secure credit freezes, with both the website and phone systems failing.

Outrage over the incident, and ensuing confusion, is building quickly. His office is working with other state attorneys general to gather additional information from the company.

"We pride ourselves on being a leader in managing and protecting data, and we are conducting a thorough review of our overall security operations", said Richard Smith, Equifax chairman and chief executive, when the breach was revealed. Those terms seemingly required arbitration of all disputes, and waiver of the ability to bring or participate in a class action lawsuit, such as those filed in Portland and Atlanta.

But really, we just have to take a moment and let our collective jaws hang open in abject stupefaction. It is providing free service for one year through TrustedID Premier - whether or not you've been affected by the breach.

Credit cards, a chain and an open padlock is seen in front of displayed Equifax logo in this illustration taken September 8, 2017. And to do it securely! Further, personal information for United Kingdom and Canadian residents may have been impacted as well. So in other words the culprits walked in through the front door.

With millions of people feeling vulnerable after the hack and scrambling to secure their most important information, getting a credit freeze has been more hard than usual in the past few days. That would be inept.


In addition to your Social Security number, Equifax says that your driver's license number may also have been exposed. The scope of the hack suggests they walked into the house and cleaned out every room.

∙ Based on information out of Alabama where a hacker used a person's compromised information in an attempt to trick a retirement broker into gaining access to a client's account, we strongly advise that you contact your investment or retirement manager to understand what protocols and safety measures are in place to ensure someone can not pose as you to gain access to your accounts. It will stop thieves from creating new fraudulent accounts under your name.

Following the hack, Equifax offered consumers one year of free credit monitoring to guard against identity theft.

Terrorist groups, nation states and organized crime groups use this type of sensitive personal information to victimize US citizens and even potentially attack our critical infrastructure. If you believe you've been a victim of identity theft, you should also contact law enforcement.

Monitor your credit card statements carefully (go online; don't wait for the paper statement). If it does then they charge huge amounts. Type the company name directly into your browser. On Friday, she was directing her Twitter ire at Equifax. The upshot is hackers now have the most important pieces of identification for almost half the country.

Based on the events that have transpired thus far, three areas have emerged that companies will want to understand, internalize, and learn from.

Related:

  • Slightly injured pope ends Colombia tour with unity appeal

    Slightly injured pope ends Colombia tour with unity appeal

    The Pope can be seen with bruising as he greets crowds after the accident. "When you don't want to see, you don't see", he said. Francis used the trip to urge Colombians deeply polarized by a peace plan to shun vengeance after a bloody 50-year civil war.
    Gas prices drop in Meadville area

    Gas prices drop in Meadville area

    Since last month, the Albany average has risen 64.6 cents, and motorists were paying 75.5 cents more per gallon than a year ago . Gas prices usually begin to go down around Labor Day, as the summer driving season comes to an end.
    Saakashvili aims to topple Ukraine's 'oligarchy' after dramatic return

    Saakashvili aims to topple Ukraine's 'oligarchy' after dramatic return

    Ukrainian law enforcement agencies said Sahakashvili and his supporters face a possible 5 year prison term. He has the full right to return to Ukraine, where he was illegally stripped of his citizenship .
  • How to Watch Hurricane Harvey Benefit Online

    How to Watch Hurricane Harvey Benefit Online

    Houston rap artist Bun B and Scooter Braun, a Hollywood talent manager and founder of SB Projects, are the organizers. The show will broadcast on CBS, NBC, ABC, FOX and CMT from Los Angeles, Nashville and NY .
    Mourinho insists Manchester United are

    Mourinho insists Manchester United are "OK" following Stoke City draw

    He said: "I prefer not to answer question about handshakes - it's a bad question". " Maybe he reacted in the wrong way ". Hughes responded with a mocking wave towards Mourinho, who did shake hands with members of Stoke's backroom staff.
    Arsene Wenger believes Sanchez will 'win back fans' after Bournemouth boos

    Arsene Wenger believes Sanchez will 'win back fans' after Bournemouth boos

    Meanwhile, Bournemouth are yet to record their first points of the season and remain 19th. Unfortunately for Bournemouth and their 3,000 travelling fans the ball hit the post.
  • Nintendo Is Giving The NES Classic An Extra Life In 2018

    Nintendo Is Giving The NES Classic An Extra Life In 2018

    Nintendo's remade classic 16-bit console is due to become available from 29 September, priced at US$80. The NES Classic Edition features 30 classic NES games such as the original Super Mario Bros.
    US Dollar Bid and Safe Haven Currencies Offered

    US Dollar Bid and Safe Haven Currencies Offered

    The euro was lower, with EUR/USD sliding 0.32% to 1.1997, after rising as high as 1.2092 on Friday, the most since January 2015. The dollar index .DXY , which tracks the greenback against a basket of six major currencies, was up 0.66 percent at 91.955.
    Root: expect something special in Australia

    Root: expect something special in Australia

    Hope has had a superb series, ending it as the leading runscorer and an average of 75. The fact England's run chase was so simple owed everything to Anderson.
  • Looping path may bring Hurricane Jose near Bahamas, US

    Looping path may bring Hurricane Jose near Bahamas, US

    The latest European model shows Jose circling around the west Atlantic for much of the upcoming week. Jose is now located about 400 miles north of the northern Leeward Islands and is moving northwest.
    Volkswagen Group to offer electrified versions of all its models by 2030

    Volkswagen Group to offer electrified versions of all its models by 2030

    Crozz II is said to be two electric motors, one for each axle which allows it to have an all-wheel drive system. And only then will electric cars come out of the niche - and achieve relevant market share in years to come.
    Xiaomi Mi Notebook Pro launched with 15.6-inch display, Windows 10

    Xiaomi Mi Notebook Pro launched with 15.6-inch display, Windows 10

    This will be Xiaomi's second outing in the Notebook space, after the company launched the successful Mi Notebook Air in 2016. One of the highlights of the Mi Notebook Pro is that it comes with a fingerprint sensor for biometric authentication.

Comments

Latest news

Rebel Wilson Wins Millions In Defamation Case
Outside court, Wilson's teaching specialist, Richar Leder, said his customer would be completely excited with the choice. When the jury delivered its verdict they answered every single question in my favor.

Analyst Buzz: Teva Pharmaceutical Industries Limited (TEVA)
Teva Pharmaceutical Industries Ltd (NYSE: TEVA ) is trading considerably higher today, now up $3.13 at $18.63 - a 20 percent gain. Mizuho maintained the stock with "Buy" rating in Tuesday, May 10 report. (NASDAQ:LSTR) rating on Friday, October 23.

Some rain, wind in forecast for West Virginia courtesy of Irma
Weatherunderground's Jeff Masters said a strike on the west Florida coast was the most likely option. If the storm moved into the Gulf of Mexico, Masters said that surge could lean more towards 8 feet.

Porsche Cayenne Turbo revealed
Porsche Cars Canada, Ltd., a dedicated subsidiary of Porsche AG, imports and distributes Porsche vehicles in Canada. That marks an improvement of 30 hp and 14 lb-ft over the previous model , which packed a twin-turbo 4.8-liter V-8.

Gillibrand joins train of Dem 2020 hopefuls backing Medicare-for-all
Democratic activists believe the GOP's failed attempt to repeal Obamacare has strengthened the resolve of the nation's leftists. Sanders has always been a champion of single-payer healthcare, and it was a central tenet of his 2016 presidential campaign .

Ederson eases fears over injury after clash with Liverpool forward Sadio Mane
His decision proved divisive on and off the pitch as even City boss Pep Guardiola was not sure it warranted a red card. Manchester City were in fine form in Saturday's destruction of 10-man Liverpool .

Desmond Tutu speaks out on Rakhine crisis
In 2016, about 85,000 Rohingya poured into Bangladesh, fleeing rape, torture and murder at the hands of Myanmar security forces. There are many more in other parts of the region and the world. "We also have expectations concerning the Myanmar government".

Pakistan condoles loss of lives in Mexico natural disaster
Mysterious green and blue flashes were seen by witnesses in Mexico City after it was rocked by a magnitude 8.2 quake . Forecasters were predicting the storm could unleash upwards of 25 inches (64 centimeters) of rain in some areas.

Indian forces ready for any situation: Nirmala Sitharaman
The Minister was presented a Guard of Honour by the Air Warriors on her arrival at the base.She was also briefed on the air base's role and nature of air operations undertaken from there.

Sterneck Capital Management LLC Cuts Holdings in Coca-Cola Company (The) (KO)
To measure price-variation, we found KO's volatility during a week at 0.65% and during a month it has been found around 0.66%. The company's shares were given away at $46.13 per share worth to an income of some $1,302,342 on account of Rivera Alfredo.

S. Korea president says THAAD deployment inevitable but temporary
Beijing says the system's powerful radars will be able to monitor flights and missile launches deep inside northeastern China. The U.S. and South Korea should "immediately stop the deployment process and withdraw relevant equipment", Geng said.

Hurricane Irma: FPL staged to restore power; some already without power
Lucie Nuclear Plant near Fort Pierce - 24 hours before hurricane-force winds hit the area and throughout the storm. FPL did announce Friday that it plans to shut down its two nuclear power plants - Turkey Point in Homestead and St.

Hingis & Murray sweep second straight mixed Slam at US Open
Murray and Hingis had already won Wimbledon in July while Saturday's triumph took their record as a team to a flawless 10-0. After the match, Murray reiterated his concerns about prize money for this format of the game.

Centre allocates fund for bullet-proof vehicles for J&K cops
A strike called by an alliance of key separatist leaders against the minister's visit disrupted normal life in the Valley. While addressing CRPF personnel in the same district, the Home Minister said, "We are proud of our CRPF personnel".

Russia, Japan 'decisively condemn' North Korea missile launch - Putin
The nuclear test came only five days after the launch of a ballistic missile that flew over northern Japan on August 29. Last week, Pyongyang fired a ballistic missile that flew over the Japanese island of Hokkaido.

Other news