Link: Huge data theft on Equifax - action needed by everyone...
- Thread starter TIDE-HSV
- Start date
If ever a company deserved to be buried under a legal avalanche from which there can be no recovery, it is Equifax.
1) Equifax's embarrassingly lax security failed to protect the most sensitive personal information held by 200 million Americans.
2) They failed to notify the public for at least a week that the identities of most of the country had been compromised.
3) During this interval, their top executives engaged in insider trading.
4) They widely advertised a completely fake lookup tool that is designed to have people sign away their right to legal recourse.
5) Since we still have no idea who was actually affected, most Americans must actually pay these same companies to ensure protection of their credit.
Frankly, our whole credit system is woefully outdated and needs to be redesigned for the modern era (link to editorial). But the destruction of Equifax would be a good first step.
1) Equifax's embarrassingly lax security failed to protect the most sensitive personal information held by 200 million Americans.
2) They failed to notify the public for at least a week that the identities of most of the country had been compromised.
3) During this interval, their top executives engaged in insider trading.
4) They widely advertised a completely fake lookup tool that is designed to have people sign away their right to legal recourse.
5) Since we still have no idea who was actually affected, most Americans must actually pay these same companies to ensure protection of their credit.
Frankly, our whole credit system is woefully outdated and needs to be redesigned for the modern era (link to editorial). But the destruction of Equifax would be a good first step.
When I first saw Equifax's web page I felt as though I was looking at a big marketing ploy. Now I just don't know. I get the feeling that they are offering something free for a year with an effort to hook the user into being a lifelong customer of the protection service.
Yes and this may be the best, most logical approach to the situation but I wouldn't be shocked if I'm asked to sign up with a credit card for automatic renewal.
This looks interesting, curious to get Earls opinion
https://www.theverge.com/2017/9/11/16290730/equifax-chatbots-ai-joshua-browder-security-breach
https://www.theverge.com/2017/9/11/16290730/equifax-chatbots-ai-joshua-browder-security-breach
I just can't believe I have to pay to freeze my own credit report! That's freaking criminal. I should control my credit report, not these idiot companies. I should be able to securely, with 2 stage authentication, log into one website and be able to monitor my credit report, freeze, unfreeze and dispute items completely free of charge. I should also be able to setup personal secret pass codes that are used instead of SSN to apply for credit. I should also be able to change that pass code whenever and how often I wish.
In fact, a system similar to Apple Pay or Google Wallet should be develop that you can use when applying for credit. Apple Pay uses AES256 encryption and your device randomly generates a different number each time you use it with a merchant. So even if a criminal captures the number leaving your device they can't use because it is only good once.
It's time this country end its reliance on SSNs, they have never been secure because we have to write them down on almost every official form that is filled out for anything. I'm okay with going to a national ID system where everyone has an ID card with a secure chip embed like credit cards. This card would have to be shown every time you apply for anything, cash a check, pay with a cc, basically anytime you need to prove your identity.
So, it will cost me $60 to freeze both my wife and me's credit reports. Plus, it cost $10 each time you want to temporarily unfreeze your report when applying for credit. Do you have to temp unfreeze for all 3 when applying for something, because then it's $30? Or just tell them to run your credit with "this" reporting agency? Seriously asking because I'm leaning towards freezing our reports. I have also read that you should consider freezing your kids reports. Is this really necessary for my 3 kids who are 9, 7 and 7? That would be $150 to get all of us done.
Something has to be done because these companies have proven time and time again that they don't care about protecting our data. Then they turn around and charge you when you ask them to protect your data more. I'm so p'd that they charge you to do this, that is criminal in my book.
I will join any and every class action suit against Equifax and I'm considering looking into that app Jon posted about if it turns out to be legit. Not because I care about getting money from Equifax but because I truly believe that they need to be buried for this and bankrupted beyond there wildest dreams. Upper management, CEO and even the head IT security guys should face jail time IMO.
In fact, a system similar to Apple Pay or Google Wallet should be develop that you can use when applying for credit. Apple Pay uses AES256 encryption and your device randomly generates a different number each time you use it with a merchant. So even if a criminal captures the number leaving your device they can't use because it is only good once.
It's time this country end its reliance on SSNs, they have never been secure because we have to write them down on almost every official form that is filled out for anything. I'm okay with going to a national ID system where everyone has an ID card with a secure chip embed like credit cards. This card would have to be shown every time you apply for anything, cash a check, pay with a cc, basically anytime you need to prove your identity.
So, it will cost me $60 to freeze both my wife and me's credit reports. Plus, it cost $10 each time you want to temporarily unfreeze your report when applying for credit. Do you have to temp unfreeze for all 3 when applying for something, because then it's $30? Or just tell them to run your credit with "this" reporting agency? Seriously asking because I'm leaning towards freezing our reports. I have also read that you should consider freezing your kids reports. Is this really necessary for my 3 kids who are 9, 7 and 7? That would be $150 to get all of us done.
Something has to be done because these companies have proven time and time again that they don't care about protecting our data. Then they turn around and charge you when you ask them to protect your data more. I'm so p'd that they charge you to do this, that is criminal in my book.
I will join any and every class action suit against Equifax and I'm considering looking into that app Jon posted about if it turns out to be legit. Not because I care about getting money from Equifax but because I truly believe that they need to be buried for this and bankrupted beyond there wildest dreams. Upper management, CEO and even the head IT security guys should face jail time IMO.
Unless you opt out, you will be added to class actions automatically, if your data is affected...
An article from Brian Krebs that might be helpful:
https://krebsonsecurity.com/2017/09/the-equifax-breach-what-you-should-know/
https://krebsonsecurity.com/2017/09/the-equifax-breach-what-you-should-know/
It's more likely to be in the form of a $6 coupon for Equifax's new credit monitoring service...
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