Equifax Data Breach - Banking Cancer


This Is The Big One Folks (IMHO). If all the scammers got was credit card numbers, then new cards could simply be issued. This is different by a long shot. And it ain't going away this year, or next year, or a decade from now. Not useless the dysfunctional US gubmint fixes it by issuing new Social Security numbers to 134 Million people. So no, this cancer is here to stay.

Virtually everyone in the US who has ever taken a loan or owns a credit card has had all their Identity info stolen from Equifax by scammers (Social Security number, date of birth, name, address, driver license number, ...). The scammers have Everything they need to impersonate your financial identity. You say you have never dealt with Equifax? No matter, you creditors have and they gave them all your information.

In your good name, the scammers can take out loans and mortgages, empty your bank accounts, or whatever. Oh and if you decide to put a freeze on your credit, it may not be comforting to realize that the scammers have all the identity info they need to unfreeze it.

Info On What You Need To Do Now
Reddit has a mega thread on this issue listing things you can and should do at this point. It looks fairly comprehensive so rather than list it here, I'll drop the weblink.
https://www.reddit.com/r/personalfinance/comments/6yv4gb/official_mega_t...

Oh and did I say F**k Equifax? No? well then F**k Equifax. The security sites are ablaze with severe criticism of Equifax for their lousy security and their inane and slow response to this monster hacking incident. Equifax discovered the breach 6 weeks ago and did not report it until now. In the meantime, Equifax executives have been dumping large blocks of the company's stock (worth a combined $1.8 million) -- gee what a coincidence.

Equifax opened a site where you can check whether you affected. If they report that you are affected, they will give you 1 year of credit fraud reporting. Um, did I miss something here? Does my Social Security number expire in one year? And there are reports that signing up means you agree to arbitration if something happens as a result of this breach. So if scammers steal your nest egg, you CAN'T SUE Equifax. Ha.

This is a time when a strong Congress could help protect us citizens. But we all know whose side they are on (yes, both stinking, rotten parties).

GOOD LUCK to all. I think we're all gonna need it.

Edit 9/10/2017: Changed "millions of shares" to "worth a combined $1.8 million".

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35 users have voted.

Comments

ggersh's picture

were and are a proven deterrent, but in modern
day amerika all we get is the look forward BS

Equifax discovered the breach 6 weeks ago and did not report it until now. In the meantime, Equifax executives have been dumping large blocks of the company's stock (millions of shares) -- gee what a coincidence.

and since our clowngress won't do anything of
substance, yep we are all fucked. People need
to go to jail cause if they don't we all know
this cycle of neoliberalism is a game ender.

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25 users have voted.

“We now live in a nation where doctors destroy health, lawyers destroy justice, universities destroy knowledge, governments destroy freedom, the press destroys information, religion destroys morals, and our banks destroy the economy.”

― Chris Hedges

Citizen Of Earth's picture

@ggersh
The Insider Trading law should just get dumped since no one will enforce it on the 1%.

However, if you or I get caught stealing a candy bar, we will be totally f***ed.

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17 users have voted.

The Equal of Two Evils Always Wins the Election.

Lily O Lady's picture

@Citizen Of Earth

years. /s

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4 users have voted.

"The object of persecution is persecution. The object of torture is torture. The object of power is power. Now do you begin to understand me?" ~Orwell, "1984"

detroitmechworks's picture

by certain people (NOT HERE) for being paranoid and insisting on a physical check mailed to my home address.

Paranoia: They can still be plotting, even if you're not paranoid.

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18 users have voted.

I don't Blame Christians. I Blame Stupid. Which Sadly, is a much more popular religion these days.

Citizen Of Earth's picture

@detroitmechworks That is funny

I don't blame you for being careful. My career is software development and I have minored in software security. But everytime my computer slows down, it leaves me wondering "Dammit. Did they break in?!"

My brother has told me many times he avoids doing online banking and bill payment so he can avoid the hackers. Opps, the hackers got to him anyway (thanks Equifax).

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19 users have voted.

The Equal of Two Evils Always Wins the Election.

@detroitmechworks the same people who mock anyone for questioning the voter systems.

I think it's easy to conclude, with all of the data breaches far and wide, that our voter systems are not secure and never will be.

Is there a hack-free system anywhere in the world?

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17 users have voted.

dfarrah

enhydra lutris's picture

@dfarrah

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0 users have voted.

That, in its essence, is fascism--ownership of government by an individual, by a group, or by any other controlling private power. -- Franklin D. Roosevelt --

joe shikspack's picture

in addition to writing your congressworm and demanding action, it seems that people ought to write to the state that has incorporated equifax (i think that it is georgia) and demand that they revoke equifax's corporate charter and force them to dismantle the company.

the state that has provided equifax with a license to operate a public nuisance should be boycotted should it refuse to revoke the charter.

if corporations are people (as mitt romney assures us) - then this corporation deserves the death penalty.

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25 users have voted.
Citizen Of Earth's picture

@joe shikspack Agreed, shutdown Equifax.

Of course, the other two, Experian and TransUnion operate under the same exact rules. There is something really creepy about these companies getting unfettered access to all our finacial info and doing whatever the f*** they want with it.

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22 users have voted.

The Equal of Two Evils Always Wins the Election.

joe shikspack's picture

@Citizen Of Earth

they all need to go, all of the damned data miners, but this is a teachable moment for the american people, 143 million of whom should now be mad as hornets.

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20 users have voted.

@joe shikspack clawback profits on those share sales by the executives, or unwind the transactions somehow.

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19 users have voted.

dfarrah

divineorder's picture

@joe shikspack
Heh.

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16 users have voted.

A truth of the nuclear age/climate change: we can no longer have endless war and survive on this planet. Oh sh*t.

Lily O Lady's picture

@joe shikspack

come to Georgia!

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11 users have voted.

"The object of persecution is persecution. The object of torture is torture. The object of power is power. Now do you begin to understand me?" ~Orwell, "1984"

@joe shikspack businesses deserve the death penalty.

Also, their executives need to be banned from the business.

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1 user has voted.

dfarrah

divineorder's picture

but was installing some solar backup and it got away from me this week.

Then you put this up and luckily my wife jakkalbessie read it in the doc office this morning and told me to get on it.

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9 users have voted.

A truth of the nuclear age/climate change: we can no longer have endless war and survive on this planet. Oh sh*t.

Citizen Of Earth's picture

@divineorder "Get On It" Hahaha.
when word comes down from the front office, it's time to act. Wink

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5 users have voted.

The Equal of Two Evils Always Wins the Election.

snoopydawg's picture

I was informed that someone in Texas has my names and SS#. The only difference is our middle name or initial. So I reported it to the FBI website over 4 years ago and I have heard nothing since.
Every February social security sends me a letter stating that I have reported income that I hadn't let them know about and that they would call me on a set day and time to discuss this. The first time they called I let them know that my SS had been stolen and I had reported it to the FBI. But each February I have to go through this again and after each time, SS sends me an email link to report it to the FBI which I have now done for 4 years now and I have never heard anything back from them.
Since SS knows that my number has been stolen, then why haven't they followed up on this? Are they going to let this other snoopydawg continue to use my # and when they retire they will receive their benefits? This seems like a no brainer. It is confirmed that this is my SS# and the person who is using it got it under false pretense.

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13 users have voted.

The Democrats are beyond morally bankrupt. The Party’s very soul has been replaced with pure ratfuckery.

thanatokephaloides's picture

..... are actually much clearer and easily understood than the almost non-existent ones on Equifax's own site.

The FTC site is here. Follow the instructions until you find out if you've possibly been impacted. Once you have your answer, Equifax will want you to sign up for their service. As others have warned us, this may affect your ability to sue Equifax for their fuckups; you may want to close the page without continuing.

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8 users have voted.

"Some members of the government are now investigating opioid pain killers but they are investigating the wrong thing. Despair-masking drugs are not the problem. Despair is."
-- featheredsprite

Eagles92's picture

When I go to this site:

https://www.equifaxsecurity2017.com/

Firefox tells me it's not a secure connection.

Asshats.

I placed credit freezes yesterday, and had the "privilege" of having to pay $10 a pop for it. Other than that, I'm not really sure what else to do but hope nothing happens.

Where's my pitchfork?!

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12 users have voted.
Citizen Of Earth's picture

@Eagles92
that Data Breach Checker web site. This guy says it is giving incorrect answers.
http://www.zdnet.com/article/we-tested-equifax-data-breach-checker-it-is...

I saw another article this morning that said it's being flagged by browsers as a phishing site. I think it's because Equifax screwed up their web site https certificates but I can't find the link now.

They really really F***ed Up their response to this incident. Not confidence inspiring.

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10 users have voted.

The Equal of Two Evils Always Wins the Election.

thanatokephaloides's picture

@Citizen Of Earth

They really really F***ed Up their response to this incident. Not confidence inspiring.

"First, do no harm."

Or, as industrial hardware technicians say:

"Ship no swine before its time!"

Equifax violated these principles with their website design.....

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7 users have voted.

"Some members of the government are now investigating opioid pain killers but they are investigating the wrong thing. Despair-masking drugs are not the problem. Despair is."
-- featheredsprite

thanatokephaloides's picture

@Eagles92 @Eagles92

Fucking perfect.

When I go to this site:

https://www.equifaxsecurity2017.com/

Firefox tells me it's not a secure connection.

The site shows as fully secure on my computer, with certificates issued by GeoTrust inc.

You may have a browser issue.

If you have an alternate browser, try it with that browser and see what happens. If the other browser shows secure, you may need to purge Firefox's cache to get secure contact.

Good luck! Please let me know what you find out!

EDIT: IMPORTANT: Information has surfaced that indicates that Equifax fucked up their website design with respect to HTTPS certificate installation. DO NOT make changes to your local system! Try reloading the site first!

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9 users have voted.

"Some members of the government are now investigating opioid pain killers but they are investigating the wrong thing. Despair-masking drugs are not the problem. Despair is."
-- featheredsprite

Eagles92's picture

@thanatokephaloides Just tried re-loading. Still showing as insecure. Which is fine ... I have no intention of using any "help" from Equifax at this point.

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2 users have voted.

My job was moved to India to someone much less qualified of course. And I don't hold any bad feelings toward the people there--just trying to make a living.

So I was laid off essentially for a year and a half. During that time of course significant financial stress. And that meant topping off credit cards and making late payments. So course my credit rating went deep south.

So let the mf'ers have my information. Nobody will issue them a card in my name--ha ha assholes, bad credit. And if someone got ahold of my credit card number/info, great--they might manage a six pack unless I buy it first. I can just imagine the look on somebody's face trying to use my credit card when the purchase is denied.

I would not recommend the technique, but ironically it has protected me if somebody got critical financial info. about me.

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10 users have voted.
earthling1's picture

@MrWebster
I had been trying to deep six my credit rating for the same purpose as you.
If I have a 0 credit rating, nobody could use my info for nefarious activities. But what I found out is you can never go below 450 credit rating. Non of the credit rating agencies score below that number.
Essentially, you always have some credit.
The whole system is effed up.
You can't borrow money without credit, and you can't get credit without a history of borrowing.
Credexit. Cut up your credit cards and lead a cash only existence.

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8 users have voted.
snoopydawg's picture

@MrWebster
after paying for 20 years for dental work on teeth I haven't had for over 10 years after I lost my job and they wouldn't work with me on them.
Plus I have a few other issues that affected my credit. Does this mean that financial institutions won't open up new cards or loans on my information? Every time I order dawg food from Amazon, I'm offered $50 off my purchase if I get an Amazon credit card. And each time I tried, I was turned down.
Does this mean that my credit is worth shit? I think so.

And why should we have to pay to freeze our credit when we weren't responsible for having the information on those sites? $3-10 per site to put a freeze on our credit. That's $30 I have to shell out of my meager savings. How the hell was it legal for a company to have our information? Whose bright idea was this?

This company at least should be offering this to us for free and sharing this information with the other two companies that have our information.

This company sat on the news of this hack for 6 f*cking weeks while the CEOs dumped their stocks. If they don't get charged for this, then they should have to be responsible for every person who gets affected by someone using their information.

Thanks for this essay and for the links provided in it and the comments.

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9 users have voted.

The Democrats are beyond morally bankrupt. The Party’s very soul has been replaced with pure ratfuckery.

@snoopydawg So to freeze account and then unfreeze temporarily and then re-freeze looks to be pushing about $90. Amazon has also rejected me. Also, as I understand, applying and being rejected for credit even lowers your credit score further.

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6 users have voted.
snoopydawg's picture

@MrWebster
We can file a report with the police and then it doesn't cost anything to freeze our accounts. I am not sure if this can be done by phone or if people have to go to the police department to get their reports.
This sub Reddit site has some great information on this. I'm not sure if this is what was in this essay. I've been following too many links.

https://www.reddit.com/r/personalfinance/comments/6yv4gb/official_mega_t...

Some people in this thread are reporting that they were notified that someone tried to open an account in their name during the time that the CEOs were sitting silent on this. The only reason they knew about this was because they had taken appropriate action, but how many other people who didn't do that had this happened to them?
I wouldn't have any idea this had happened to me unless they got into my bank accounts?
Plus all the credit cards that I defaulted on expired years ago so would this make a difference?

I recently reported my cards lost and haven't activated the new ones in play yet. I had these cards before I defaulted on the two other ones and I only use them for my internet, dog food and I pay them off monthly.

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5 users have voted.

The Democrats are beyond morally bankrupt. The Party’s very soul has been replaced with pure ratfuckery.

Meteor Man's picture

From Crooks & Liars:

A credit freeze allows you to seal your credit reports and use a personal identification number (PIN) that only you know and can use to temporarily “thaw” your credit when legitimate applications for credit and services need to be processed. The added layer of security means that thieves can’t establish new credit in your name even if they are able to obtain your personal information.

The cost is $3 to $10 per credit reporting agency. Their source for the advice looks credible and makes sense. More details here:

http://crooksandliars.com/2017/09/dont-sign-equifaxs-free-credit-monitoring

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10 users have voted.

Cali Kush: a bowl a day keeps the doctor away.

Lily O Lady's picture

@Meteor Man

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4 users have voted.

"The object of persecution is persecution. The object of torture is torture. The object of power is power. Now do you begin to understand me?" ~Orwell, "1984"

Lenzabi's picture

Corporates get to rule all, and they have worked hard to get rid of regulations blaming them for stifling "growth" well when you are in charge of such personal data as Equifax and other places are, it is on YOU EQIUFAX_TARDS to make sure that you spend the time/money/effort to secure that data, just for shit like this.

Do we truly need these clowns?

This breach is a total violation by Equifax to the people whose info they let get stolen.

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5 users have voted.

So long, and thanks for all the fish

Like you, I think this is "the big one". I'm really curious as to what happens next. I have a hunch...golden parachutes for those at the top, years of headaches and losses for the rest of us.

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7 users have voted.
Lily O Lady's picture

identity with drivers licenses, passports, business IDs, military IDs, etc. Yet someone can take our data and forge identification documents which enable them to "become" us.

So I restate my case, what is the point of IDs? They only seem to be a problem for honest people.

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4 users have voted.

"The object of persecution is persecution. The object of torture is torture. The object of power is power. Now do you begin to understand me?" ~Orwell, "1984"