Friday, 22 September, 2017

Equifax Breach: Lessons For Indian Companies

Equifax's Massive Breach Tests Trump Capitol Hill Equifax's Massive Breach Tests Trump Capitol Hill
Mae Harvey | 12 September, 2017, 00:40

Leaked data includes names, birth dates, Social Security numbers, addresses and some driver's license numbers, CNBC reported. "That's the big stick consumers have, and companies have been taking it away". However, Equifax clarified that the arbitration clause refers to the Trusted ID product and not any lawsuits dealing with the data breach. "Enrolling in the free credit file monitoring and identity theft protection that we are offering as part of this cybersecurity incident does not waive any rights to take legal action", it said. Within four days of the hack, however, a number of high-up Equifax executives, including Equifax Chief Financial Officer John Gamble; President for USA information solutions Joseph Loughran; and President of workforce solutions Rodolfo Ploder sold shares at high prices. Those are what John Ulzheimer, an independent credit consultant who previously worked at Equifax, called "the crown jewels of personal information".

Nearly $1.8 million in stock was sold by Joseph Loughran, chief of USA information solutions business, Rodolfo Ploder, head of the workforce solutions operations and John Gamble, Chief Financial Officer. "Free credit freezes for those affected".

Equifax said it discovered the unauthorized access on July 29 and "acted immediately to stop the intrusion".

In the last few months, they have been expanding their microfinance offerings, and partnered with the International Finance Corporation to "deepen coverage" of credit reports of Self-Help Groups in India.

David Johnson Suffers Wrist Injury vs. Lions
They have the weapons on offense to put up points in bunches, and their defense should be much-improved this year as well. Abdullah will be joined by fellow running back Theo Riddick , who also was out with an injury majority of the season.

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But for 10 per cent of players, they can choose where they want and they will make a great career. After securing his dream move, Mbappe still has one ambition remaining: to pass his driving test.

Discovering Momentum Stocks: LKQ Corporation (LKQ), Royal Caribbean Cruises Ltd. (RCL)
The stock of Herzfeld Caribbean Basin Fund, Inc (NASDAQ:CUBA) earned "Overweight" rating by Pacific Crest on Tuesday, August 30. With 23,600 avg volume, 3 days are for Cvsl Incorporated (NYSEMKT:JRJR)'s short sellers to cover JRJR's short positions.

Equifax is hardly the first company to be hit hard by hackers: Target, Home Depot, and Yahoo! all within the past four years. If you didn't know, Equifax is one of the largest USA based credit reporting agencies that collect and analyze detailed records of financial data for records of a wide range of consumers worldwide. Its stock price fell as much as 17.8 percent on Friday, wiping out more than $3 billion of market value. But that's when the company became aware it had been breached. However, if hackers have all of an individual's personal information, they also have all the information needed to unfreeze an account. A freeze won't affect your credit score or report.

Lenders use Equifax information to determine risks in financing people's mortgages and credit cards. Some are considering Equifax's own credit monitoring service.

Equifax's ham-handed response is reviving calls to weed out mandatory arbitration from the finance industry. Use your smart phone as a secondary log-in to Equifax or any of your financial, social media or other accounts that are password-protected. As many Americans have learned from data breaches in the past, those are promises not always kept. Taking some or all of the steps above also can not fully guarantee that you will never experience any form of identity theft, but you will be more aware of potential problems before they become larger ones.

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