Tag: Equifax
16. April 2020
It has been almost two years since the consumer credit reporting agency Equifax suffered a massive Data Breach.
Back in May 2017 Equifax has been hacked, but the operators first noticed the breach much later, at the end of July 2017 and informed the public on the beginning of September 2017.
The disclosure of sensitive data from approximately 143 million, not only US based consumers, was to be feared (we reported).
After the breach Equifax invested $ 200 million on the data security infrastructure and found itself in the middle of class action suits.
Now, two years after the hack, Reuters reports the settlement of a lawsuit in connection with which Equifax pays $ 19.5 million to Indiana and also the Chicago Daily Law Bulletin reports a $ 1.5 million settlement between the city of Chicago and Equifax.
Besides Indiana also Massachusetts filed a lawsuit against Equifax, which is reported to be settled as well – the amount of the settlement is not yet known.
27. July 2018
Last year at this time the Credit Bureau Equifax has been hacked and the sensitive data of approximately 143 million consumers has been affected.
The data breach is considered to be the worst data breach in US history, according to the scale and the nature of the information exposed. Hackers have entered the system and stole data like consumer’s name, social security numbers, birth dates, addresses and in some cases also driver’s license numbers, as well as credit card numbers.
After the data breach, the company had to be determined that they were not prepared for such an event, measures had to be taken. So what happened during the past year?
Equifax has remained fairly quiet amidst class action suits, congressional scrutiny, a Federal Trade Commission probe, and a wave of new state regulations designed to ensure that Equifax substantially improves its security defenses. Beyond others, in February a new Chief Information Security Officer, Jamil Farshchi, was hired. Farshchi had managed information security at high-stakes companies and cleaned up data breaches before. Furthermore, Equifax invested $200 million on data security infrastructure.
So the transformation is in process to create a world-class security program at Equifax.
11. September 2017
The consumer credit reporting agency Equifax has been hacked in the middle of May. The operators have noticed the breach much later, on 29th July. The public has learned about the breach just last week on Thursday, 7th September.
The breach potentially affects the sensitive data of approximately 143 million consumers. Data concerned are the consumer’s name, social security numbers, birth dates, addresses and in some cases driver’s license numbers. As well as credit card numbers for 209.000 U.S. consumers and other dispute documents that contained identifying information for 182.000 consumers.
Not only the US is concerned. A hired third-party cybersecurity company also found some residents of the U.K. and Canada.
The Equifax Chairman and CEO Rick Smith announced steps Equifax is taking at the moment to respond on the breach and is working with authorities.
