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Montanans affected by Equifax breach, state says

Montanans affected by Equifax breach, state says

This breach of customer trust will be hard for Equifax to recover from, Dang said, but he hopes it can be used as a learning experience for other credit agencies moving forward.

Equifax said Thursday that 143 million people could be affected by a recent data breach in which cybercriminals stole information including names, Social Security numbers, birth dates, addresses, and the numbers of some driver's licenses.

The company said "criminals" cribbed other personal info such as birth dates, addresses and driver's license numbers, as well as some 209,000 US consumers' credit card numbers.

They are offering those affected a one-year complimentary trial of their credit monitoring program.

The first step all experts, including Dang, recommend is freezing your credit.

Here's how to freeze your credit.

Now, according to a report in Mashable, Equifax has received a ransom request of $2.6 million in Bitcoin. On Monday, it said in a blog post it's "listening to issues consumers have experienced and their suggestions" and had made changes, such as increasing call center support.

The company also has a website where you can check whether or not you have been the victim of a data breach. It also now says people will get randomly generated PINs when they try to put a security freeze in place.

The initial announcement of the breach on September 7, which disclosed that the personal details of up to 143 million United States consumers were potentially accessed by hackers between mid-May and July.

When the Red Cross Blood Service suffered a leak past year, one of the things they did particularly well was to notify all affected parties by email, SMS and through the media. The company has found no evidence of unauthorised activity on Equifax's core consumer or commercial credit reporting databases. Unlike most other data breaches, many of those affected may not even know their information is held by Equifax. Days later, three senior managers including Chief Financial Officer John Gamble sold stock worth nearly $1.8 million.

To get more specific, the two contracts represent wagers that Equifax's stock price - which closed at $123.23 on Friday - will fall to either $100 or $105, respectively, by October 20. Chief among the questions lawmakers and consumer regulators are raising is whether the credit-reporting bureaus are subject to enough oversight. The company didn't announce the breach until months later to consumers.

Lenders use Equifax information to determine risks in financing people's mortgages and credit cards.

"To confirm, enrolling in the free credit file monitoring and identity theft protection products that we are offering as part of this cybersecurity incident does not prohibit consumers from taking legal action". 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. While not the largest breach of personal data ever, it's arguably one of the most severe due to the nature of the data.

Years from now, the Equifax breach may provide fodder to business school students about how not to bungle a response to a security failure.


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