Those who have been victims of identity theft can place an extended fraud alert that will last for seven years.
More than 140 million American consumers had their personal information compromised as a effect of a huge Equifax breach. Equifax said it discovered the hack on July 29 but waited more than a month to publicly announce it. "Credit bureaus keep so much data about us that affects nearly everything we do".
Be vigilant in checking your accounts and your credit. The company made a number of missteps, such as taking months to make the break-in public and, apparently, running web server software with a known vulnerability. The Atlanta-based company declined to comment on that delay or anything else beyond its published statement. I asked for an investigation. Additionally, when individuals went to check whether they were impacted by the breach, they were navigated to a new website, www.equifaxsecurity2017.com, rather than one hosted on the primary corporate site. In the same hack attack, Equifax lost almost 209.000 consumers credit card numbers and so far the unspecified number of driver licenses, but an alleviating circumstance is that no intrusions on "core consumer or commercial credit reporting databases" at Equifax were discovered. Equifax has come under fire from members of Congress, state attorneys general, and people who are getting conflicting answers about whether their information was stolen. (In short words, such contracts solve serious agency problems and lower transaction costs, enabling the consumer economy to function more cheaply.) But I have a big problem with a company trying to sneak things past panicked consumers, particularly when the panic is caused by the company's own malfeasance. The company will also be forced to improve its data security measures in order to prevent any cyber theft in the future.
More than 143 million Americans are reportedly affected by the hack of credit reporting agency Equifax.
"This really undermines their credibility", Litan said. It's particularly worrisome for the millions of people who trust credit-reporting agencies like Equifax to handle and protect their financial information.
Equifax's stock has plunged 18% since the company's high-profile security breach.
Others expressed frustration that three senior executives sold about $1.7 million in stock in the days following the discovery of the hack. Such PINs could potentially be brute-forced by someone attempting to unlock a credit report for the goal of identity theft. The statement must include your name, address, and Equifax user ID, as well as a "clear statement that you do not wish to resolve disputes with Equifax through arbitration". The people affected by its security failure, which the company disclosed last week even though it occurred earlier this year, are not necessarily Equifax customers. When you use the service, it will require you to enter your last name, the last six digits of your Social Security number, and to use a tool to verify that you are not a computerized robot. Equifax said the attack began in May and exposed personal data such as social security numbers, driver's license numbers, birth dates and addresses.