Equifax Data Breach

Equifax Data Breach Could Be the Worst One Yet

It seems that data breaches are becoming all too common these days. Take for instance the recent hacks of Yahoo in 2013 where 1 billion users were affected. Then in 2014 over 500 million users had their personal details exposed. Ebay was hacked in 2014 and 145 million users’ sensitive data was up for grabs. In today’s news, Equifax one of the largest credit bureaus in the world, was hacked and over 143 million people’s very private, sensitive information was leaked. This Equifax data breach could be the worst one yet and affect more than half of the U.S. population.

The Equifax data breach could be one of the most devastating to consumers. Equifax holds in its cyber vaults consumer’s names, Social Security numbers, past and present addresses, birth dates and drivers license numbers, credit card numbers, and even banking and insurance information. The thought of all of this data in the hands of criminals is downright terrifying.

Although the Yahoo, Ebay, and even Target hacks hit a larger number of consumers, the information that they leaked was limited. There is no comparison to the sheer amount of data that Equifax just released and changing your passwords or canceling a credit card is not going to fix the damage of Equifax’s leak.

When Did They Know?

Another thing that is troubling about this breach of data is the length of time it took Equifax to inform the public. The breach occurred five weeks before they disclosed the data loss. They state that they are not positive as the exact date of the breach, but that it was sometime between mid-May and late-July. They notified the public on September 7, 2017. Then to make matters worse, according to Bloomberg News, three top Equifax executives sold more than $1.8 million of stock in the days just following the company being apprised of the data breach. Whether that was intentional remains to be seen, but the impact on the public’s confidence in Equifax has completely tanked.

Equifax Is Still Fumbling

Equifax created the site www.equifaxsecurity2017.com to notify its customers and US consumers of this data breach. What’s ironic about this is that the site is built on a basic WordPress platform which doesn’t have the enterprise-grade security required. When you hand over your name and six digits of your social security number, the site better have proper security protocals in place. Another issue is that the domain isn’t even registered to Equifax! At first glance it looks like a phishing scam, which Open DNS, owned by Cisco, blocked access and warned visitors that it could be a fake. If you want to see if your data was hacked, www.equifaxsecurity2017.com is where you want to start the investigation.

We will continue to update you on this issue as more information is released by Equifax.