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Old 09-08-2017, 10:52 AM   #61
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I'd advise those of you with HELOCS to set up some sort of verbal password - when my ID was stolen I had $180K fraudulently wired out of mine
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Old 09-08-2017, 11:06 AM   #62
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Originally Posted by easysurfer View Post
Don't want to be the bearer of bad news. But when I got my SSN hacked from the IRS Transcript hack, I had to send in a form to the IRS so that in the future, for taxes, I get a postcard with a PIN required for filing.

So, I'm thinking, with the Equifax breach, if your SSN got stolen, don't you have to let the IRS know too. Otherwise, couldn't anybody with your SSN fill out a fake tax return?

Don't quote me ... Just thinkin' aloud .
You're joking, right? A POSTCARD?? Same thing happened to us but we at least get two letters (DW and I get individual PINS) so the letter carrier and the world don't see the numbers.
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Old 09-08-2017, 11:12 AM   #63
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Thanks for that link. Here is the title of that piece for anyone that did not open the link.

Equifax TrustedID protection (provided to victims) ToS require you to agree to private arbitration; waive ability 4 class action suit
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Old 09-08-2017, 12:04 PM   #64
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You're joking, right? A POSTCARD?? Same thing happened to us but we at least get two letters (DW and I get individual PINS) so the letter carrier and the world don't see the numbers.
I kid you not. I did exaggerate though as I I believe the PIN is in a sealed letter, not a postcard. Sorry about that.

After the IRS Transcript hack, all of my future tax returns are considered needed a PIN each year. PINs don't get reused.

More on that here:


Quote:
Q1: What's an IP PIN?
A1: The IRS IP PIN is a 6-digit number assigned to eligible taxpayers to help prevent the misuse of their Social Security number on fraudulent federal income tax returns. We send new IP PINs each year in late December or early January by postal mail.
If we assigned you an IP PIN, you must use it to confirm your identity on any return filed during the current calendar year. This includes current year returns as well as any delinquent tax returns.
An IP PIN is used only on Forms 1040, 1040A, 1040EZ, 1040PR and 1040SS. If you’re a spouse with an IP PIN, please refer to Question 6. If your dependent has an IP PIN, please refer to Question 22.
https://www.irs.gov/identity-theft-f...mber-ip-pin#q1
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Old 09-08-2017, 12:15 PM   #65
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Yup I'm affected and can't even freeze credit. Yeah, 143 million people all trying to freeze credit at once.
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Old 09-08-2017, 12:19 PM   #66
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Crystal ball time:

There will be a massive class action suit. The lawyers will get millions of dollars. The participants will get coupons for a year of free credit monitoring.
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Old 09-08-2017, 12:48 PM   #67
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Crystal ball time:

There will be a massive class action suit. The lawyers will get millions of dollars. The participants will get coupons for a year of free credit monitoring and 10% off the annual $99 fee for one year.
My add in red.
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Old 09-08-2017, 12:56 PM   #68
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DW and I are both affected. Got sign-up dates of 9/12 and 9/13. We both have credit frozen at all 3 agencies, so hopefully that will provide some protection. This would be HUGE news if it weren't for 3 active hurricanes, one massive recovery, and an 8.2 earthquake. Good timing by Equifax PR.
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Old 09-08-2017, 01:41 PM   #69
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As I stated before for those that got and OK, Not ME;

I got that, went back later and got the 'go to free monitoring site on xxx date'

So I am not sure how good their system is.

Remember if you are going the freeze route, freeze both your account and your 'other's' account. Also if you have kids, you might think about freezing theirs also. Anyone with a SSN would be vulnerable.
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Old 09-08-2017, 01:50 PM   #70
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Given some thought, I think there are four areas with questions that need to be answered:

1. Did Equifax employ the most modern, thorough and strongest security practices and procedures that are practical? Or did they cut corners, not staff properly, avoid acknowledging problems, push aside those who warned of potential or actual problems, etc.? (Kind of like some lenders did before the last financial crisis).

2. How long were the bad guys roaming around the Equifax system gathering data on us? One hour? One day? A week? Months? (There are to many cases where the bad guys spent literally months in a corporations or government computer system before they were detected.)

3. How soon after finding out they had been breached were the bad guys blocked and completely stopped?

4. Why did they wait over one month to warn those of us who had their data stolen or potentially stolen about the problem? They knew they had a problem on July 29. Why not let us know then so we can freeze our accounts and use other tools to monitor our credit status?
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Old 09-08-2017, 01:55 PM   #71
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FWIW, this is not the first time a credit bureau has been breached. This from Krebs

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In 2015, a breach at Experian jeopardized the personal data on at least 15 million consumers. Experian also for several months granted access to its databases to a Vietnamese man posing as a private investigator in the U.S. In reality, the guy was running an identity theft service that let cyber thieves look up personal and financial data on more than 200 million Americans.
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Old 09-08-2017, 01:59 PM   #72
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Originally Posted by Cobra9777 View Post
DW and I are both affected. Got sign-up dates of 9/12 and 9/13. We both have credit frozen at all 3 agencies, so hopefully that will provide some protection. This would be HUGE news if it weren't for 3 active hurricanes, one massive recovery, and an 8.2 earthquake. Good timing by Equifax PR.
They knew about the breach on July 29. So... Your suggestion that they delayed news of it until it might be overwhelmed by other very bad news may have some merit. I don't know for sure.

But, why they waited over a month to release this information to the people needs to be investigated and made clear. Perhaps they were hoping to cover it up? Or maybe Law Enforcement asked them to hold back so they could capture the bad guys? Who knows?
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Old 09-08-2017, 02:00 PM   #73
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So EFX is down some 13% in after hours. I might buy some puts tomorrow because this baby is going down some more.
Hahahaha, Thats the silver lining.
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Old 09-08-2017, 02:01 PM   #74
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Thinking about it overnight, I think this event will actually greatly increase the earnings of all three major credit reporting agencies.

The reason is the $10 to freeze your credit and $10 for each temp thaw/refreeze.

If only 10% of the 150,000,000 people decide now to freeze their credit, and do about three thaws a year like we have, then you are talking an increase in revenue of $900 million a year. FOR DOING NOTHING

Might actually be time to buy Equifax stock on a dip.
When did they start charging to freeze your credit?. I thought it was free. OK found the website, 2006 in NY, Free for the first freeze.
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Old 09-08-2017, 02:11 PM   #75
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You may not want to sign up for their "free" credit monitoring. You may give up your rights to sue later. Check it out. There are already class actions suits in the works.
In addition to the crooks that sold their stock after finding out, I just saw on CNBC their head of security made 2.8 mil last year.
If this all doesn't tick you off nothing will.
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Old 09-08-2017, 02:12 PM   #76
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More news from Krebs today:

Quote:
Bloomberg moved a story yesterday indicating that three top executives at Equifax sold millions of dollars worth of stock during the time between when the company says it discovered the breach and when it notified the public and investors.


Shares of Equifax’s stock on the New York Stock Exchange [NSYE:EFX] were down more than 13 percent at time of publication versus yesterday’s price.


The executives reportedly told Bloomberg they didn’t know about the breach when they sold their shares. A law firm in New York has already announced it is investigating potential insider trading claims against Equifax.
https://www.bloomberg.com/news/artic...ing-cyber-hack

Again, who knows for sure? We must wait and see.
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Old 09-08-2017, 02:18 PM   #77
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They knew about the breach on July 29. So... Your suggestion that they delayed news of it until it might be overwhelmed by other very bad news may have some merit. I don't know for sure.

But, why they waited over a month to release this information to the people needs to be investigated and made clear. Perhaps they were hoping to cover it up? Or maybe Law Enforcement asked them to hold back so they could capture the bad guys? Who knows?
Cynical answer would be so the executives could sell their stock.

More likely answer is that they had to work out how to respond to the consequences of informing the public. At the very least, they had to take some time to build and sort of test their "are you impacted?" website. They also had to assess and evaluate the damage, involve law enforcement, and possibly patch any vulnerabilities that were found that allowed the problem in the first place. Oh, and their press announcement says that people in the UK and Canada were possibly affected, so they have to work with multiple governments and law enforcement folks.

I actually think that they've done the announcement reasonably fast.

By the way, I'm one of the impacted, and when I checked the website today it said "We think you may be affected, click here to enroll" or some such language. So I think they probably modified their website since the time people earlier in this thread got sent directly to the "you're signed up starting Sept 12" message. If I am correct, then this means that if you saw the Sept 12 message then you are among the impacted group.
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Old 09-08-2017, 02:19 PM   #78
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You may not want to sign up for their "free" credit monitoring. You may give up your rights to sue later. Check it out. There are already class actions suits in the works.
In addition to the crooks that sold their stock after finding out, I just saw on CNBC their head of security made 2.8 mil last year.
If this all doesn't tick you off nothing will.
Yes, do not sign up for their crap. I want to be a part of any lawsuit for sure, even if I only end up getting a coupon to Red Lobster for a free desert out of it.

Also, is there a good way we could drive our state to make the credit freeze and thaw free instead of letting them charge a fee? Is the lobby just too strong in most states?
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Old 09-08-2017, 02:28 PM   #79
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How is it that we can find prophecy in the movies?

First- Idiocracy was not supposed to be a documentary.
Second- Fight Club was not supposed to be a blueprint for the future fix of the credit mess.
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Old 09-08-2017, 02:34 PM   #80
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Cynical answer would be so the executives could sell their stock.

More likely answer is that they had to work out how to respond to the consequences of informing the public. At the very least, they had to take some time to build and sort of test their "are you impacted?" website.
More likely, they needed time to hire a PR firm to handle this mess.
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