At the time, Jun Ying was the Chief Information Officer of Equifax U.S. Information Solutions. On September 7, 2017, Equifax, one of the largest consumer reporting agencies in the world, announced a data breach affecting more than 147 million consumers— nearly half of the U.S. population. By now, you’ve heard about the massive Equifax data breach that hit widespread media headlines on September 7th, 2017. This July 21, 2012, photo shows Equifax Inc., offices in Atlanta. If you have more questions about the Equifax breach, you can contact Equifax directly at 1-866-447-7559. Equifax headlined news recently in what may have been the largest data breach in history. SACRAMENTO – California Attorney General Xavier Becerra today issued a consumer alert following the Equifax data breach that affected 143 million Americans and over 15 million Californians.Equifax is one of the nation’s three major credit reporting agencies. The deadline to file eligible Extended Claims Period claims for time or money you spend in the future as a result of the Data Breach is 1/22/2024 (see FAQ 12). Equifax disclosed Thursday that it has discovered another 2.4 million people in the United States who were affected by its massive 2017 data breach. Had they been in place on or before 2017 per industry standards, it is unlikely the Equifax data breach would ever have been successful.” Jaclyn Jaeger Jaclyn Jaeger is an editor with Compliance Week and has written on a wide variety of topics, including ethics and compliance, risk management, legal, enforcement, technology, and more. Equifax has reported that the information was compromised between May and July of this year and includes names, Social Security numbers, birth dates, addresses and driver's license numbers. Equifax, one of three major credit-reporting companies, disclosed in 2017 that a data breach had compromised the personal information, including Social … The Equifax data breach is merely the latest in a very long list of successful cyber hacks that have been accomplished over the years. Equifax claims that the executives had not been apprised of the breach when the stock was sold. University of the People PHIL 1404 Ethics and Social Responsibility Equifax Data Breach Case Study Prof. Dana Hoyle Introduction In Here are the facts, according to Equifax. What You Should Do Find out whether your information is potentially at risk. Equifax has set up a website that allows consumers to determine whether their information was potentially compromised. Sign up for credit monitoring. Equifax announced that it would provide free credit monitoring to all U.S. ... Freeze your credit. ... Check your accounts. ... Particularly the Social … 65% of the Fortune 100 companies use STRUTS, so this vulnerability was not unique to Equifax. In the wake of a massive data breach at Equifax, U.S. Doing the math, the attackers had at least 3 months in their systems. It is offering affected consumers a … The Equifax breach investigation highlighted a number of security lapses that allowed attackers to enter supposedly secure systems and exfiltrate terabytes of data. Free freezes—without a police report. Not only is that one piece of information unique to you, but it can also be used to … Since 2005, CEO Rick Smith embarked on an aggressive growth strategy, acquiring multiple companies, IT systems, and data data data. Our personally identifiable information (PII), or what we normally define as PII, has been extended to more and more things over time. On September 7, 2017, the Big 3 credit agency Equifax disclosed that they had suffered a catastrophic data breach, with initial estimates saying data was stolen from north of 140 million American consumers.Immediately, the news sent chills throughout the US economy. A federal court approved a class action Settlement that resolves lawsuits brought by consumers after the data breach. After receiving a class action lawsuit over data breach issues in 2017, Equifax has finally agreed to resolve it by paying $19.5 million from the Indiana attorney general. Equifax Could Not Follow Its Own Policies in Patching the Vulnerability That Ultimately Caused the Breach. SurveyMonkey BrandVoice | Paid Program. The breach lasted from mid-May through July. The case discusses the events leading up to the massive data breach at Equifax, one of the three U.S. credit reporting companies, the organizational and governance issues that contributed to the breach, and the consequences of the breach. The case discusses the events leading up to the massive data breach at Equifax, one of the three U.S. credit reporting companies, the organizational and governance issues that contributed to the breach, and the consequences of the breach. An estimated 143 million Americans are impacted, or 44% of the US population. The breach occurred sometime between mid-May and July 29 when they discovered that they were hacked. This Equifax data breach is one of the worst. Almost immediately, consumers used the Consumer Financial Protection Bureau’s (CFPB) consumer complaint hotline to register problems and concerns with the breach and Equifax… Equifax denied any wrongdoing and no judgment or finding of wrongdoing was made. Another thing this tool would show is who *doesn’t* work for the company. The record for most consumers affected by a data breach goes to Yahoo, who had 500 million customers affected by a breach that occurred in 2014 and 1 billion customer records compromised in 2013. The breach lasted from mid-May through July. In early September 2017, Equifax informed the public that millions of consumer records were compromised in a data breach. Equifax Data Security Breach: What You Need to Know Equifax, one of the three major credit reporting agencies, reported that hackers had infiltrated its systems and gained access to sensitive information of 143 million consumers. As one of the three major U.S. credit bureaus, Equifax hosts the sensitive personal information of millions of Americans, such as Social Security numbers, birth dates, and driver’s license numbers. Equifax Data Breach: What Consumers Need to Know and Need to Do Earlier this month Equifax revealed that it suffered massive data breaches and were hacked on two separate occasions. The Equifax data breach came to light back in September 2017 — and consumers are still fuming. The criminals identified a flaw … Your guide to surviving the Equifax data breach But first: A quick recap Step 1: Enroll in Equifax's program (or just move on to step 2) Step 2: Check your credit reports Step 3: Freeze your credit Step 4: Set a fraud alert Step 5: Repeat the process for your loved ones Watch out for tax season Background. today joined a group of Democratic Senators in calling for the Federal Trade Commission (FTC) to immediately review data security not only at Equifax, but also the other two major consumer reporting agencies, Experian and TransUnion. A class action lawsuit has already been filed that seeks as much as $70 billion in damages. If we're only looking at the numbers, the Equifax data breach isn't the largest. The full Congressional report cited “a lack of accountability and management structure,” “compl… It was the third hacking disclosed by Equifax … Adding insult to financial injury, Equifax has put the onus on consumers to do their own research about whether or not they need to worry. This is not the first data breach at the major reporting agency. Equifax, like its two rivals, is the gateway to consumers’ access to financial credit. More on the Equifax Data Breach Class Action Settlement. Equifax faces new lawsuits and is trying to make new gestures to customers in the wake of its disclosure last week that it exposed vital data like Social Security numbers of about 143 million Americans.It’s already come under fire from members of Congress, state attorneys general, and customers.The company and its competitors, TransUnion and Experian, gauge how much of a risk … On September 7, 2017, the Big 3 credit agency Equifax disclosed that they had suffered a catastrophic data breach, with initial estimates saying data was stolen from north of 140 million American consumers.Immediately, the news sent chills throughout the US economy. Equifax had been using the open-source Apache Struts as its website framework for systems handling credit disputes from consumers. Between May 13 and July 30, hackers accessed approximately 145.5 million consumers' personal data, plus credit card credentials for at least 209,000 consumers. The deadline to file an Initial Claims Period claim as a result of the Data Breach was 1/22/2020. Here are some of the biggest, baddest breaches in recent memory. The NYS Department of Financial Services is reviewing the incident and recommends that those who may be breach victims take steps to protect themselves. On September 7, 2017, Equifax … During the summer of 2017, Equifax was the victim of a data breach, where hackers acquired names, Social Security numbers, birth dates, and addresses of over 145 million Americans. Equifax and the Data Breach Epidemic Equifax is perhaps the most significant data breach in American history affecting nearly half of the United States population.4 This data breach highlights the need for change in how companies prevent data breaches from occurring and how consumers are notified in the event of a data breach. On Thursday – nearly two months after the data breach was discovered – Equifax announced that it had been hit with a high-tech theft of personal information for 143 million consumers, including consumers’ names, Social Security numbers, birth dates, addresses and, in some cases, driver’s license numbers and credit card numbers. Equifax is one of the nation’s three key credit bureaus that tracks and stores individuals’ credit histories, along with a treasure trove of other personal information such as social security numbers. From May thru July of this year, over 143 million consumers had their personal information obtained by hackers in a monumental Equifax data breach leaving them vulnerable to a range of issues from the fraudulent use of their credit cards to identity theft. Regulations such as the GDPR in Europe have broadened that spectrum with the intention of protecting our data as broadly as possible. In September of 2017, Equifax, one of the three largest consumer credit reporting agencies in the United States, announced a data breach that exposed the personal information of 147 million people. The case supplement provides details of how Equifax recovered from the breach and changes the company made. The LendEDU survey was administered online to 1,000 adult Americans to determine how people felt about Equifax in the wake of the hack. In September of 2017, Equifax announced it experienced a data breach, which impacted the personal information of approximately 147 million people. ... Data Breach… The cost of the Equifax breach is likely to be greater than the Target breach. Equifax hack 02:06. People have been banging the drum for years, but perhaps now the massive Equifax breach will force the issue to the forefront: it’s way, way past time to dump social … Steps to Take After the Equifax Data Breach See if you’re affected, then take steps to protect your identity moving forward. On September 7, 2017, Equifax, one of the largest consumer reporting agencies in the world, announced a data breach affecting nearly half of the U.S. population. It isn’t even the largest such hack, but is notable for it being at one of the three major credit rating agencies. Equifax, one the nation’s largest credit reporting agencies, suffered a massive data breach that affected up to 143 million Americans – nearly half the population in the United States. On Monday, the company agreed to pay $700 million to … up to the 2017 data breach. Social Media. Legal Implications of the Equifax Data Breach. The internet is … The worst part, you don’t even need to be an Equifax customer in order to be impacted. One of the many concerns outlined in the Senate Finance Committee’s letter to Equifax is the potential for the breach to lead to the perpetration of “Had the company taken action to address its observable security issues prior to this cyberattack, the data breach could have been prevented,” said the report. Here’s a look at both sides, in the hopes that Equifax and other organizations will learn some do’s and don’ts when the next inevitable data breach occurs. One of the most shocking things about Thursday's announcement of the Equifax data breach is the sheer scale of the numbers involved. ALIA: And, while not even storing our Social Security numbers properly, Equifax has voluntarily made it their business to gobble up tons more of our data. Data security officials often warn that the effects of a data breach can be long-lasting. In the wake of that breach, Equifax promised to make things right. It took the company more than five weeks to disclose the data loss to the public. How Big Is the Equifax Data Breach? The release indicated that the breach impacted personal information relating to 143 million U.S. consumers, primarily including names, Social Security numbers, birth dates, addresses and, in some instances, driver’s license numbers. Equifax will pay up to $700 million to settle with the U.S. and states over a 2017 data breach that exposed Social Security numbers and other private information of nearly 150 million people. Equifax is dealing with the fallout of an enormous data breach, exposing the information of up to 143 million Americans. View Ethics WA 1.docx from PHIL 1404 at University of the People. Due to the sensitivity of information Equifax kept, the stakes of a breach were huge as the information could harm consumers if put in the wrong hands. 5 key Equifax failures, according to Congress. Even so, the firm was overwhelmed by calls after the breach became public, and faced problems … The Equifax Data Breach: An Overview and Issues for Congress na e redacted Specialist in Financial Economics September 29, 2017 According to Equifax, cybercriminals exploited a vulnerability in one of its online applications between mid-May and July 2017, potentially revealing information for 143 million U.S. consumers.
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