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Old 09-08-2017, 01:35 PM   #81
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+1
They should provide free monitoring for life, and free correction of any mis-use for life as well.
Why was this information not encrypted ?
I think the executives should go to prison for 10 years as well, to be sure the other reporting agencies get their act together.
To answer your question, I believe it is because the information needs to be accessed for perfectly legitimate reasons, probably every second of every business day.

The tricky thing with data security is not preventing it from being accessed by bad actors. The tricky thing is preventing bad actors and allowing good actors, all the time, with 100 percent accuracy. They don't want to mistakenly allow bad actors, nor do they want to mistakenly prevent good actors.

I read a very interesting book once on near-accidents with nuclear weapons (like the event in Arkansas back in the '80's). It's a similar sort of problem: You want the bomb to always go off when you want it to (for example, you don't want to drop a dud on some idiot dictator in SE Asia). But you also want the bomb to never go off when you don't want it to (for example, you don't want the bomb to go off while it's still being built or when it's strapped to the bottom of one of your bomber aircraft). So we have multiple safety systems in place that we have to have ways to disable at the very last seconds.

The data security problem is harder, though, because with a bomb you know when you want it to go off, and you only want it to go off once. Oh, and the bomb isn't actively trying to thwart our safety efforts. The data threat is random and continuous and creatively malevolent.
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Old 09-08-2017, 01:35 PM   #82
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Originally Posted by Mo Money View Post
Complimentary monitoring for one year. Then they presumably begin to charge you. What a crock.

WARNING!!!

Just started to read the thread but someone on TV said that IF you look at their site to see if you were hacked you cannot be in any class action lawsuit!!!

Hope not many people have looked...
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Old 09-08-2017, 01:35 PM   #83
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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?
My home state won't let a parent signup to freeze their child's accounts. Very poor.
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Old 09-08-2017, 01:38 PM   #84
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WARNING!!!
...IF you look at their site to see if you were hacked you cannot be in any class action lawsuit!!!
If that's true I see grounds for another class action lawsuit...
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Old 09-08-2017, 01:42 PM   #85
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WARNING!!!

Just started to read the thread but someone on TV said that IF you look at their site to see if you were hacked you cannot be in any class action lawsuit!!!

Hope not many people have looked...
If you but don't sign up then you can't be in any class action? If so, then WT#!
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Old 09-08-2017, 01:45 PM   #86
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Anybody considering suing Equifax individually?

Representing oneself and filing in small claims court could mean a payout of a few thousand dollars. Possibly worth it just for fun, although it's possible you could lose if EFX brought decent lawyers to bear.

Can one be forced to join a class action? I don't think so.
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Old 09-08-2017, 01:54 PM   #87
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Anybody considering suing Equifax individually?

Representing oneself and filing in small claims court could mean a payout of a few thousand dollars. Possibly worth it just for fun, although it's possible you could lose if EFX brought decent lawyers to bear.

Can one be forced to join a class action? I don't think so.

I will wait for a lawyer, but I think they can consolidate cases together if a class action is filed.... you do have the option of being removed from the class but not sure if they can force you in at the beginning....


The question now is will they remove that arbitration clause they had in their terms and conditions when you signed up to see if you were breached... kinda fishy IMO as you do not know if you can sue unless you know you were breached.... and to find out you have to sign away your rights to sue....
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Old 09-08-2017, 01:54 PM   #88
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WARNING!!!

Just started to read the thread but someone on TV said that IF you look at their site to see if you were hacked you cannot be in any class action lawsuit!!!

Hope not many people have looked...
How can just looking at a site mean you've waived any rights? I don't see this standing up.

"We won't tell you whether you've been affected unless you agree to arbitration"?

I don't think so!
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Old 09-08-2017, 02:18 PM   #89
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from the Washington Post...:
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Equifax, a major consumer credit reporting agency, disclosed Thursday that hackers had obtained sensitive information, including Social Security numbers and dates of birth, for 143 million people. The breach began in May and was discovered by the company on July 29. Shortly afterward, three company executives Chief Financial Officer John W. Gamble; Joseph M. Loughran III, the president of U.S. information solutions; and Rodolfo O. Ploder, the president of workforce solutions sold large amounts of their shares of Equifax stock.

Gamble sold nearly $1 million worth of stock on Aug. 1; Loughran disposed of about $700,000. The next day, Ploder sold stock worth $250,000, according to Securities and Exchange Commission filings. The sales were not part of a pre-scheduled transaction, according to the filings.
Just a coincidence...
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Old 09-08-2017, 02:47 PM   #90
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Here is the link for Washington state Attorney General consumer complaint form:

https://fortress.wa.gov/atg/formhand...laintForm.aspx


Do not be a sheep and let Equifax get away with collecting millions of dollars in freeze credit fees just because they made you scared with their lax security.
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Old 09-08-2017, 03:01 PM   #91
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Krebs reports that the website is unreliable. Different responses depending on phone or computer. Bogus input gets same response as real.
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In the early hours after the breach announcement, the site was being flagged by various browsers as a phishing threat. In some cases, people visiting the site were told they were not affected, only to find they received a different answer when they checked the site with the same information on their mobile phones.

Others (myself included) received not a yes or no answer to the question of whether we were impacted, but instead a message that credit monitoring service we were eligible for was not available and to check back later in the month. The site asked users to enter their last name and last six digits of their SSN, but at the prompting of a reader’s comment I confirmed that just entering gibberish names and numbers produced the same result as the one I saw when I entered my real information: Come back on Sept. 13.

Who’s responsible for this debacle? Well, Equifax of course. But most large companies that can afford to do so hire outside public relations or disaster response firms to walk them through the safest ways to notify affected consumers. In this case, Equifax appears to have hired global PR firm Edelman PR.
https://krebsonsecurity.com/2017/09/...dumpster-fire/
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Old 09-08-2017, 03:05 PM   #92
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So Equifax had the biggest hack in history stealing customer information, which is the only thing they deal with, and for weeks , three executives never heard a word about it.
It was never discussed in a meeting.
Never discussed at lunch/water cooler/bathroom/parking lot.
Nobody thought this might have any impact which is why Chief Financial Officer John W. Gamble was not told.
Nobody thought maybe they should fix their computer systems so nobody told Joseph M. Loughran III, the president of U.S. information solutions.
This would not affect any employees so no need to tell Rodolfo O. Ploder, the president of workforce solutions.
Those executives need to go to jail AND need to be fired.

Yes..... I'm mad...
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Old 09-08-2017, 04:12 PM   #93
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Disclosure: I live in the Atlanta area and know folks that work at EFX.

Why would senior executives sell relatively small portions of their holdings just prior to the announcement of the largest security breach in history? (I read earlier today, one sold 14% of his shares and the other two sold less than 10% each). If they knew about the breach, they would have also anticipated the fire storm they would be subjected to and scrutiny from the Feds. Execs selling shares are required to make filings with the Feds. That's how the public found out. They did not hide this. My guess is it is just dumb bad luck. EFX has been trading at multi year highs. It was probably a good time to sell a few shares.

EFX may have made mistakes, but I suspect insider trading is not one of them.

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Old 09-08-2017, 04:19 PM   #94
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Disclosure: I live in the Atlanta area and know folks that work at EFX.

Why would senior executives sell relatively small portions of their holdings just prior to the announcement of the largest security breach in history? (I read earlier today, one sold 14% of his shares and the other two sold less than 10% each). If they knew about the breach, they would have also anticipated the fire storm they would be subjected to and scrutiny from the Feds. Execs selling shares are required to make filings with the Feds. That's how the public found out. They did not hide this. My guess is it is just dumb bad luck. EFX has been trading at multi year highs. It was probably a good time to sell a few shares.

EFX may have made mistakes, but I suspect insider trading is not one of them.

FN
In situations like this, the exec's are generally told not to sell shares in the light of this information becoming public. Or, maybe they are all buying new mansions to celebrate the upcoming flood of revenue from their "Credit Protection Services" sales promotion?
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Old 09-08-2017, 04:25 PM   #95
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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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How can just looking at a site mean you've waived any rights? I don't see this standing up.

"We won't tell you whether you've been affected unless you agree to arbitration"?

I don't think so!

From what I understand you have to 'sign up' and give info to get if you were involved in the hack... the sign up process has terms and conditions which include arbitration...

I have no idea since I did not sign up... but it has been reported by others...

Who knows if it will stand... I am sure that will be in a lawsuit...


Edit to add.... I heard it on cable news when a congressman mentioned it to the reporter... he is on some kind of cyber committee and has been proposing data protection laws.... I would think he has his info straight...
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Old 09-08-2017, 04:30 PM   #96
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My credit is already frozen at the three agencies so I am not going to sign up for this notification service, free or otherwise.
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Old 09-08-2017, 04:34 PM   #97
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Disclosure: I live in the Atlanta area and know folks that work at EFX.

Why would senior executives sell relatively small portions of their holdings just prior to the announcement of the largest security breach in history? (I read earlier today, one sold 14% of his shares and the other two sold less than 10% each). If they knew about the breach, they would have also anticipated the fire storm they would be subjected to and scrutiny from the Feds. Execs selling shares are required to make filings with the Feds. That's how the public found out. They did not hide this. My guess is it is just dumb bad luck. EFX has been trading at multi year highs. It was probably a good time to sell a few shares.

EFX may have made mistakes, but I suspect insider trading is not one of them.

FN
I am willing to give them the benefit of the doubt. Executives are often encouraged to put a trading (10b5-1) plan in place to dispose of their stock and it could be that the transactions occurred automatically because the stock hit a preset price.

I am sure that theses transactions will be scrutinized by the proper authorities.
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Old 09-08-2017, 04:36 PM   #98
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In situations like this, the exec's are generally told not to sell shares in the light of this information becoming public. Or, maybe they are all buying new mansions to celebrate the upcoming flood of revenue from their "Credit Protection Services" sales promotion?
Agreed. IIRC, companies can blackout Execs from selling shares in this type of situation. Apparently EFX did not have a blackout in place when these Execs sold. EFX has also issued a statement indicating the Execs did not know. This stuff is to easy to check. And all will be deposed in various lawsuits. Dollars to donuts, the insider trading goes away.

But, lots of other stuff to complain about. And some of it is not going away. Rage on.

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Old 09-08-2017, 06:08 PM   #99
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Another way to pressure the industry to improve is to use less credit. Stop feeding their pig, pay cash for more things.
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Old 09-08-2017, 06:49 PM   #100
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Another way to pressure the industry to improve is to use less credit. Stop feeding their pig, pay cash for more things.
LBYM? Thats just crazy talk.

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