>Equifax faces at least 23 proposed class-action lawsuits since its disclosure that personal identifying information for 143 million U.S. consumers may have been compromised by a massive cyberbreach.
> "Equifax probably injured 143 million people, which is kind of a record," said John Coffee, a Columbia Law School professor and director of the school's Center on Corporate Governance. Although the extent of the damage hasn't yet been determined, "with 143 million people it doesn't surprise me there are already 23 suits," said Coffee.
>The company said it discovered the intrusion on July 29, but it first disclosed the attack publicly on Sept. 7, after engaging an independent cybersecurity firm to conduct a forensic assessment and provide recommendations to toughen electronic security safeguards.
>Equifax organizes and analyzes data on more than 820 million consumers and more than 91 million businesses worldwide. The company's databases hold employee data submitted by more than 7,100 employers.
>The company separately drew legal criticism from New York Attorney General Eric Schneiderman's office over an implication that those who registered for TrustedID would waive their rights to pursue class-action lawsuits and instead would have to pursue legal claims through arbitration.
Mysterious rising stocks edition
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>The data stolen in the Equifax hack is extremely valuable to cyberthieves. All that information packaged together sells for upwards of $30 per identity on online black markets, according to Mark Nunnikhoven, head of cloud research for cybersecurity firm Trend Micro.
>If a data thief took out a prescription using your identity, that goes on your medical record. That could seriously screw up your ability to get treatment at a hospital or from your pharmacy, particularly if the fraudster obtained medicine that counteracts with yours.
>More sinister cybercriminals could use that data to pin crimes on you, according to Eva Velasquez, CEO of the Identity Theft Resource Center, a nonprofit that assists fraud victims.
>If someone gets a driver's license in your name and runs a red light or gets a speeding ticket, you're on the hook. The criminal's not going to pay it -- and soon enough there could be a warrant out for your arrest.
>The earlier you get a jump on cleaning up the mess the better. But most people don't find out about fraud until it becomes a roadblock for them, according to Velasquez. That means you could have to provide months or years of information to clear your name.
>Equifax already waited six weeks to tell the world about the hack -- that gave hackers a six-week jump on all of us, Nunnikhoven noted.
money.cnn.com
This isn't jewish at all!
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Bump.
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Brokers shorted Equifax stock thinking there will be massive penalty from regulators.
Seeing that that might not be coming, they're buying back shares to close their short positions.
Thus the rising share price.
I just saw this (stocks) before visiting Sup Forums. The pattern seems to be big fall after the announcement, then from there it'll rise, fall slightly, rise, then fall a decent amount. Repeat. It looks like if you bought as soon as it plummeted after the announcement, you lost ~6 points since then.
Can someone explain what's so (((jewy))) about this or is this a big nothing burger (the "mysterious rising" stock, not the data breach)?
CIA coup. This credit company is /their guy/. Learn how the game works, kids.
Probably the fact that the execs sat on the news for two months, dumped their stocks (((coincidentally))), then announced it to the public.
Then there was the arbitration clause in the ToS on that sketchy website they set up to find out if you're going to be screwed by this down the road.
>execs dumped stocks
Oh shit, I only looked at the past week. I'm neither a lawfag nor financefag, but is that at all considered insider trading, or fraudulent in some way that execs new stocks would plummet and profited while allowing others to buy into a doomed stock?
>arbitration clause
Saw that, scummy as shit
Bump
Just phoned a lawfriend, they said it was definitely insider trading
>I'm neither a lawfag nor financefag,
Same.
>is that at all considered insider trading, or fraudulent in some way that execs new stocks would plummet and profited while allowing others to buy into a doomed stock?
Probably, but who knows if they'll actually be held accountable.
The timing of the news of this whole thing was pretty scummy too, waiting until half the country is distracted by a series of natural disasters.
Bump.
Bump for justice.
Bump for spitting on scumbags
>waiting until half the country is distracted
Maybe if enough of these hurricane victims are affected by the breach, maybe if they try to sell their houses or get a new car and start anew only to find that their credit has been fucked over, maybe we'll see some irony in the tactical announcement.
Fair point.
The media does seem to be trying to keep it somewhat buried though.
Let's make sure these senators put fire under the asses of the insider traders
Read up on their push into block chain technology. This is all a push to milk the cow as the new system is being formed
Also if this move occurred when the current options were 0 DTE, this is definitely non-organic the whole way though.
>Equifax acknowledged in a statement that the three executives sold a "small percentage" of their shares, but that they "had no knowledge that an intrusion had occurred at the time they sold their shares."
I really hope that an investigation occurs where discoveries reveal what "a small percentage" actually is. Small to me definitely means under 50%, and probably under 30%. But the language is supposed to make one feel it was under 5-10%.
All three of these executives, if called to testify, will plead the 5th down to their names.
Goodbye thread. There doesn't seem to be any interest outside of maybe 4 people here. Will continue to check until you are dead.
Oh, well this is scary.
Bump.
People are too worried about black dicks and whether or not santa clause is white.
time to occupy wall street it up against equifax
This time with guns to keep all the progressives from fucking ruining it like they did last time.
I can't tell if you're joking, but this is the exact kind of focus that OWS lacked. 1 company, of 3 that are doing the exact same thing, acted negligently and has potentially affected 143 Million Americans. Not only that, but 3 execs seemingly profiteered off of this. 1 company, 3 execs. That's the kind of focus that over 100 million angered people can demand justice against.
Tbf, OWS was deliberately goaded into the idpol D&C.
That said, I wouldn't recommend attempting to bring firearms into NYC.
That sounds like a good way to get shot, and fast, especially with De Nigro-lite as mayor.
>too big too fail 2.0
there was discussion over this when news broke out last week in Sup Forumsuro
>signed up on their site to check if my info was stolen
>if i check, could forfeit any right to sue
>today is check in date
what do i do bros?
Just assume your shit was stolen and act accordingly.
didn't you read the thread? don't fucking use their site, it doesn't even work properly
talk to your bank ASAP
better yet read this inb4 mobile then get it on your laptop or desktop or xbone
>signed up on their site
their site is also vulnerable to attack and they haven't fixed it.
Bump.
Bump.
Bump.
Bump.
There is no way that arbitration clause could ever be considered binding.
This
Sweet
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bump for wow we're fucked
Yeah. It's all ogre.
Bump.
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To be fair, you’re not “on the hook” for shit fraudsters do in your name.
Bump.
Bump.
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Bump for safe and smart financial choices in a fucked up debt economy
bump
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Bump
Bumpity.
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DEY GOOD BOIS, DEY DUN NUFFIN JUS TRYIN TOO SURVIVE IN DIS WORLD DEY DUN NUFFIN
>media underreport this breach
>Sup Forumss response:but muh YouTube homo crush video gamer said nigger herp derp XD
>shit threads galore, it's her turn tee hee, traps are redpill, mgtow, shitted.com LMAO, etc
got to love nu/pol/
Bump
Bump to help fellow burgers
Bumperino.
Bump.
Bump
Bump
Bump
God damn you guys. What's wrong with you
assisting in bumpage
Bump.
Clear SEC violations. We need to find a way to organize millions of people to hound the SEC to make at least these 3 execs face prison time.
bump for major happening
as far as this thread goes, until new information comes to light, I think we have all of the public facts. now we need to spread this to the public to generate outrage and general awareness
>number of people affected by recent hurricanes vs number of people affected by this data breach and the time it took to alert the public.
>time it took to realize a hurricane was incoming vs time it took to notify the public about possible mass identity theft
Just spitballing; don't know if it's wise to compare this to the hurricanes, but that is the majority of coverage atm
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>he actually thinks Trump will do anything to protect consumers when republicans wanted to make it easier for Equifax to fuck you over
lol
You """people""" don't really think Trump is going to help you do you?
Good idea
144 million adult Americans were hit
someone trump knows or cares about will be fucked
Little by little, this will blow up more and more
Fuck it, I made it sound like we should be apathetic to finding new information.
I'm going to see if I can find any link between Equifax and the SEC or major news outlets. Most articles I've seen are like
>this happened, here's how to freeeze your credit
Seems like someone is concealing the buck. The only saving grace I see right now are these 3 execs, so have to prove that they would have known to dump stocks. Questions:
>would any of them be required to know about the breach because of job title?
>would the CFO be required to know that an outside contractor was hired to investigate?
Any other questions people can think of?
The best thing that can come of this is the public loses trust in this whole credit rating charade and that system crumbles under the weight of their hubris. I fail to see how any credit reporting after this breach is valid. As far as I'm concerned, I'm debt free now.
Why would this info be accessible online? And if so, does that mean that perhaps the other two major credit reporters could end up having the same 'breach' in the future?
Did we even get any details of the breach? Who found it...? How did they find it...? Which technology was compromised in what way...?
A drastic change in this system would be the best outcome. The worst of course would be nothing changes, the ceos and equifax get away with this and 144 million of us get a nice bag of shit just in time for Christmas
I really don't understand how more people aren't super fucking mad about this.
It is potentially more damaging than Irma and could play out over DECADES.
And all because of a company we didn't actually ask to do something gathered our personal information and stored it insecurely.
I hope that at the LEAST we get some fast legislation that removes the fees on freezing and unfreezing credit. That we can get fucked like this and then have to pay $10 in most states to protect ourselves with companies we did not solicit is insanity.
>as far as you're concerned
Problem is, banks don't care what you're concerned about, and your debt holders surely don't care. Time to get angry, because this credit-based system isn't going away just because you pretend it's over.
I honestly had no idea that private companies were collecting my information based on fine print when I opened my checking account when I was 16. Sure, my mom co-signed at the time, but I couldn't consent to fuck a girl in my state so why could I consent to giving away my most sacred information to another company. And my mom couldn't consent to me fucking someone else, so I don't see how she can sign away my identity either.
Would this system, because it's likely not going away and will replace cash some day, be better suited in the hands of the government? Not like they have a great track record of securing data, but at least we'll have an agency that we can point a single finger at if things run amuck.
>Chief Financial Officer John Gamble,
>U.S. Information Solutions President Joseph Loughran and
>Workforce Solutions President Rodolfo Ploder
These are the three guys. "Information Solutions" is a job title that needs looking into, because that could be connected to information breaches. CFO might have to approve a large purchase of an outside contractor, and generally should know what will affect company stock. Even more of a stretch "Workforce Solutions" may have to indtruct personnel on how to better secure handling of the public's information.
At the same time, your dollar could potentially be nigh worthless. If only we took Japans example in time, but no.
I assume security was lax, considering Ms. "MFA in Music Comp." Mauldin was CISO, but that's just an assumption.
God only knows who got the info.
I'm more curious to know when they knew they got breached and how far/fast up the food chain that knowledge went when they did find out.
Digitizing all sorts of infrastructure was something Obama worked on in a huge way (I want to say first term, but can't really remember at this point).
Great idea in theory, right up until you get Stuxnet'd like the NHS did not too long ago.
Most of this kind of shit should have never been online in the first place.
It was really, really easy to see this kinda thing coming.
You're not wrong on the first part.
>As far as I'm concerned, I'm debt free now.
Lol, GLWT
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Distracted by the hurricanes, I think, plus this story really hasn't gotten the coverage it deserves.
This is definitely going to bite a lot of people in the ass down the road, and sadly, the worst of it won't be directed at the people responsible for this clusterfuck.
Ho-lee-fuk
Yeah a music composition major
Totally right for the job
Well said.
>A drastic change in this system would be the best outcome.
tinfoil here..
could it be a push to a new form of national i.d.? push for microchipping?
Probably.
Have some more.