Equifax Data Breach

[~Anastasia~]

I'm just wondering......why trust them for anything after this, including a freeze or anything else they offer, my friend?

Weren't they hacked at least 3 times?

The sad thing is, it doesn't matter if you trust them or not. They collect your data if you get into the credit system at all, then it's used to decide if you can rent a place to live, get credit, get a job, how much your insurance will cost, and so on.

I once had an item on my account for years that wasn't mine, and even included a social security number - not mine - and even with that I couldn't get it removed. Thankfully it's aged off.

But you don't get to opt out. You don't get to protect your info. You don't get to do anything financial without their say-so. And ... they can't be fully trusted.

What fun, huh?

 

[brinny]

The sad thing is, it doesn't matter if you trust them or not. They collect your data if you get into the credit system at all, then it's used to decide if you can rent a place to live, get credit, get a job, how much your insurance will cost, and so on.

I once had an item on my account for years that wasn't mine, and even included a social security number - not mine - and even with that I couldn't get it removed. Thankfully it's aged off.

But you don't get to opt out. You don't get to protect your info. You don't get to do anything financial without their say-so. And ... they can't be fully trusted.

What fun, huh?

It's criminal.

 

[~Anastasia~]

It's criminal.

It ought to be, honestly.

People sometimes suffer unfairly because of mistakes made by these entities which have no real accountability for their errors that I can see. It can be difficult to get errors corrected, much less hold them responsible.

However, I am absolutely no expert in all of this. I just see what happens sometimes.

 

[brinny]

It ought to be, honestly.

People sometimes suffer unfairly because of mistakes made by these entities which have no real accountability for their errors that I can see. It can be difficult to get errors corrected, much less hold them responsible.

However, I am absolutely no expert in all of this. I just see what happens sometimes.

i was listening to Dave Ramsey and he said that they've been seriously hacked at least 3 times.

 

[~Anastasia~]

i was listening to Dave Ramsey and he said that they've been seriously hacked at least 3 times.

There's no "dislike" button. (Besides I wouldn't want that to reflect on YOU ... but that's the only way I can respond to this info.)

 

[AACJ]

i was listening to Dave Ramsey and he said that they've been seriously hacked at least 3 times.

There will probably be more government oversight now or greater penalties, which is a good thing I guess since Equifax has shown that it cannot be trusted to safeguard its systems adequately nor to notify the public in a timely manner when it becomes aware of a breach. Either more government oversight or much stiffer penalties. It seems that every major breach is not reported in a timely manner to consumers.

Ahh the devices of man! Good intentions in tech development leading to disaster. I am not convinced that mankind has positively progressed overall. Not when a kid a half a world away can ruin people financially with a few key strokes.

A freeze definitely helps. It seems reasonable to just keep one's credit accounts frozen until and unless one needs some creditor to run a check.

 

[AACJ]

One particularity scary aspect of such data theft is the potential for an identity theft victim being arrested. For example, someone creating a drivers license under a false identity and then not bothering to show up for court for a traffic viiolation. In that scenario the victim could potentially have a warrant out for their arrest and not be aware of it.

 

[brinny]

Why is Equifax still even in existence?

Apparently the top notch oversee-er of security was an arts major?

Are there any class action lawsuits against them?

 

[~Anastasia~]

Are there any class action lawsuits against them?

There seems to be the expectation that there will be one now, if there hasn't been before.

To be honest, I somehow doubt they actually have the assets to cover the damages that could be caused by their negligence, not to mention lawyer's fees and other fines and damages.

 

[brinny]

There seems to be the expectation that there will be one now, if there hasn't been before.

To be honest, I somehow doubt they actually have the assets to cover the damages that could be caused by their negligence, not to mention lawyer's fees and other fines and damages.

From what i understand they either sold their stocks and/or transferred their wealth, etc. overseas right before the news broke from them about this latest hack.

 

[~Anastasia~]

From what i understand they either sold their stocks and/or transferred their wealth, etc. overseas right before the news broke from them about this latest hack.

Now that doesn't look suspicious at all, does it?

 

[brinny]

Now that doesn't look suspicious at all, does it?

Who or what is/has been protecting them?

 

[~Anastasia~]

Who or what is/has been protecting them?

I'm not sure what you mean? But they decided to release the info, from what I've heard, though after too long a period. And if you are saying they purposely protected assets before making the announcement, well ... that's pretty blatant, don't you think?

 

[brinny]

I'm not sure what you mean? But they decided to release the info, from what I've heard, though after too long a period. And if you are saying they purposely protected assets before making the announcement, well ... that's pretty blatant, don't you think?

Exactly my point.

What confounds me is....after this history of hacking, why they are still at liberty to gather such personal and damaging information on consumers.....bottom line being why they are still in existence.

 

[~Anastasia~]

Exactly my point.

What confounds me is....after this history of hacking, why they are still at liberty to gather such personal and damaging information on consumers.....bottom line being why they are still in existence.

Well, there are others too. And it's a pretty established industry. We at least think we need to know people's credit history to make decisions about them. That part probably won't go away.

I hope it doesn't (eventually) result in it being moved to a government agency. Government already looms pretty large for us here in the US. But much, MUCH better safeguards would be better. I don't know if it's even possible for anything to be completely safe. I'm not a hacker.

 

[dysert]

Fun fact: The person in charge of the security at Equifax had a degree... in music.

"had"?

 

[brinny]

Well, there are others too. And it's a pretty established industry. We at least think we need to know people's credit history to make decisions about them. That part probably won't go away.

I hope it doesn't (eventually) result in it being moved to a government agency. Government already looms pretty large for us here in the US. But much, MUCH better safeguards would be better. I don't know if it's even possible for anything to be completely safe. I'm not a hacker.

Perhaps it has no right to have access to personal and damaging information on consumers then.

 

[dysert]

Don't forget. If you're going to freeze your Equifax account, you also should freeze your accounts at the other two as well (Experian, TransUnion). With the info the hackers probably have, they could go through any of the three credit bureaus to screw you.

 

[~Anastasia~]

Perhaps it has no right to have access to personal and damaging information on consumers then.

Well when the agencies first started doing that, I myself questioned their "right" to do that but ... it's a given in our society right now.

We never agreed to terms before they started though, did we?

 

[brinny]

Well when the agencies first started doing that, I myself questioned their "right" to do that but ... it's a given in our society right now.

We never agreed to terms before they started though, did we?

LOL! Well maybe that needs to be challenged and changed, Anastasia.

Yes?