Tuesday, October 3, 2017

Equifax Underestimated by 2.5 Million the Number of Potential Breach Victims

Equifax revised its estimate of the number of people likely to be devastated by its recent large-scale data, totalling 145.5 million people, 2.5 million compared to the initial report.

One of the three major credit reporting agencies in the United States, Experian and TransUnion, Equifax (EFX, + 1.66%) Stores a large number of highly sensitive individuals and financial details for consumers. The company disclosed last month that from mid-May to July, a group of unidentified hackers obtained extensive data, including name, date of birth, street address, credit card number and social Security number.
Equifax released a new estimate of Monday, one day after Mandiet, the forensic computer department's corporate network security FireEye (Feye, + 3.16%), Equifax assumed that complete its comprehensive damage overhaul. Despite the higher numbers, Equifax said, Mandiant "found no evidence of any other activity or new invaders or any access to the new database or table."

Equifax said Mandirt also found no evidence that databases outside the United States have unauthorized activities.

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"I want to apologize to all the consumers again," Paolino Barros, Jr., Equifax recently appointed chief executive in the interim statement. "As this important phase of our work is now complete, we continue to take a number of measures to study and strengthen our cyber security practices." We will also work closely with the internal team and external consultants to implement and accelerate long-term security improvements.
Equifax said that although he initially warned that about 100,000 Canadians may have been exposed to data, he has now revised the figure to as many as 8000 potential Canadian victims. The company said they would notify them by mail.
Equifax said it was still determining the extent of UK consumer irregularities.
In the weeks of September 7, when Equifax first disclosed a compromise, some key leaders left the company. Former chief executive Richard? Smith retires (the bank's salary is $90 million), and so does his chief information officer and chief security officer.
Equifax's board said he was investigating other members of his executive team, including his chief financial officer and general counsel, to sell shares after discovering a default but before public disclosure. Some of the reasons were raised against the socially suspected improper person data.
Equifax advises consumers to enter some identifying information on websites created after the hacking invasion to determine whether they are affected. The company said it would update the database and would have the names of millions of consumers likely to be affected in October. 8. Security professionals recommend that victims implement a credit blockade and use a special PIN to block credit records.