Looks like Equifax was breached

[Cassius King]

There's also this!

https://twitter.com/x/status/906028906855096320

Sneaky SOB's!

 

[Big_Hitter]

i'm impacted and I currently have a protection account with equifax

 

[scrabbler1]

I have a credit freeze with the Big Three but got the bad news message others describe above.

 

[Johanson]

I've had free credit monitoring for at least 4 years now due to places I've had business with getting hacked including the DoD. They all send you a letter of apology with the info to sign up for a year of free credit monitoring. At some point, I assume, things are going to get very bad for me but so far I haven't had any issues.

 

[timo2]

I've had free credit monitoring for at least 4 years now due to places I've had business with getting hacked including the DoD. They all send you a letter of apology with the info to sign up for a year of free credit monitoring. At some point, I assume, things are going to get very bad for me but so far I haven't had any issues.

+1

 

[Chuckanut]

Disappointing?!?!?! Is that the best adjective they can come up with?

How about something like "We have just made the lives of 143 million people a lot more difficult by miserably failing to prevent or quickly detect and stop this violation of our security. We made matters worse by waiting over a month to tell you about it thus further risking your financial security and trashing any remaining trust you may have in us. The Chairman, Execs and Board of Directors are now being instructed in Japanese art of Seppuku."

If you have not already done so, Freeze your credit at all three major credit bureaus at once. Presumably that still works properly. But, then again... who knows for certain anymore?

 

[Chuckanut]

Nothing will improve in this area until the banks and credit bureaus have more skin in the game.

I was joking about Seppuku, but it certainly would put some 'skin in the game' - quite literally.

 

[FIREd]

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.

After this debacle, there will probably be a push to lower or eliminate fees on credit freeze. If your identity has been compromised by Equifax's failure to protect your data, could you imagine having to pay them money to freeze/thaw your credit? And why am I required to do business with this company in the first place?

 

[Gotadimple]

Seppuku for the top brass maybe?

Removing top brass doesn't solve the problem it just removes a target. Seriously, any business can get hacked. No matter how careful they are. Credit monitoring? I generally pass on the offer, I want monitoring that rejects the fraudulent charges. CC companies already do that.

Rita

 

[Midpack]

Great, you can't really protect yourself these days. One day there will probably be a whopper hack like we've not yet seen, just a matter of time. Even though we never "enrolled" with them, Equifax site said DW and I were both affected so we signed up for the "free" security. Probably a ruse to get more info...

 

[Big_Hitter]

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

 

[jazz4cash]

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.

 

[jazz4cash]

There's also this!

https://twitter.com/x/status/906028906855096320

Sneaky SOB's!

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

 

[easysurfer]

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:

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-...tion-personal-identification-number-ip-pin#q1

 

[RobbieB]

Yup I'm affected and can't even freeze credit. Yeah, 143 million people all trying to freeze credit at once.

 

[Clone]

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.

 

[aja8888]

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.

 

[Cobra9777]

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.

 

[Rustic23]

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.

 

[Chuckanut]

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?

 

[Chuckanut]

FWIW, this is not the first time a credit bureau has been breached. This from Krebs

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.

 

[Chuckanut]

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?

 

[Blue Collar Guy]

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.

 

[Blue Collar Guy]

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.

 

[foxfirev5]

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.