tiptrot.com October 23, 2017

Equifax Hacked Because of Incompetent Security Chief

20 September 2017, 12:29 | Deanna Wagner

The data breach at Equifax compromised the personal details of 143 million customers worldwide. Dado Ruvic Reuters

The data breach at Equifax compromised the personal details of 143 million customers worldwide. Dado Ruvic  Reuters

USA prosecutors in Atlanta are reportedly investigating the sale of the stock and Equifax's breach of security in conjunction with the Federal Bureau of Investigation. "This incident was also covered in the media". "The March event reported by Bloomberg is not related to the criminal hacking that was discovered on July 29".

The company also confirmed that Mandiant, the threat intelligence arm of the cyber firm FireEye, has been brought on to help investigate the breach.

"We believe continuing to offer consumers a fee-based service in addition to Equifax's free monitoring services will serve to only confuse consumers who are already struggling to make decisions on how to best protect themselves in the wake of this massive breach", the attorneys general wrote.

The company disclosed on September 7 that the cybersecurity breach exposed the personal data of about 143 million Americans but, at that time, did not reveal the number of Canadians involved.

Specialist blog Krebs on Security was one of the few outlets to cover the breach at the time - when Equifax initially disclosed the hack to customers in May, two months later. "The two events are not related". Senator Elizabeth Warren said she would open an investigation, and the state of MA, which she represents, has also said it would file a lawsuit.

Equifax is now at the center of several investigations into how the breach occurred and what took so long to disclose it.

On Friday, Equifax said its chief information officer and its chief security officer had "retired."

A wide range of sensitive and valuable information was exposed in the colossal Equifax data breach, including addresses, date of birth, driving license details and social security numbers. They have also sought information about the Equifax executives who sold almost $1.8m (£1.36m) in stock just days after the firm discovered the hack, but weeks before it was made public. However, the vulnerability could have been fixed back in early March when patches became available. Equifax claims the executives did not know about the data breach when they sold their shares.

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