Canada watchdog asks Equifax to help citizens impacted by breach


The Equifax data breach that exposed the personal data on 143 million USA consumers has led to questions about the credit reporting company's response to the security incident.

Peterson said his office was notified of the breach directly from Equifax on Friday.

More from Rembiesa: "What is perhaps most disturbing to me is how three top Equifax officials, including the CFO of the company, could cash out stock immediately before this kind of announcement and then claim ignorance as a defense for doing so".

Beyond being one of the largest breaches in this nation's history, this breach is of particular note due to the sensitivity of the information that was breached. - "If the stolen information from Equifax gets into the wrong hands, experts say data thieves can open bank accounts, lines of credit, new credit cards and even drivers' licenses in your name".

"In all 50 states there are very clear negligence laws, and these local judges are very reasonable", he said.

Dr. Barbara Rembiesa, president and CEO of the International Association of IT Asset Managers: The second major Equifax data breach in four years is a clear indication that "corporate America still does not have proper information technology asset management techniques" in place. Maxine Waters (D-Calif.) and Ted Lieu (D-Calif.), and Sens. "Every industry sector - whether consumer-facing or business-to-business - faces data security threats that may put consumer data at risk".

Federal agencies are also quite active. To start with, the initial demand for an arbitration agreement for affected customers has empowered proponents of the Consumer Financial Protection Bureau's controversial arbitration rule.

Another day, another attempt by Equifax to stem the tide of consumer rage in the wake of the enormous breach that left vulnerable the personal data of up to 143 million people.

Equifax has already made some decisions in this regard that have been less than helpful.

Understandably, many people are questioning why it took six weeks to report the incident to the public.

"This is a goldmine of information for a thief", said Chi Chi Wu, an attorney at the National Consumer Law Center.

Despite repeated requests by the BBC, Equifax has not confirmed exactly how many United Kingdom consumers were affected, but reports suggest the details of up to 44 million British people may have been compromised.

Warner wrote in his letter that Equifax's actions after disclosing the hack "also raise serious concerns about the company's data security practices".

The Levi & Korsinsky complaint alleges that Equifax's fraud began in February 2016, when the company said in its annual report to the Securities and Exchange Commission that it was a global leader in data security and continually invested in cutting edge technology to protect consumer data.

The firm claims it responded to the infiltration as soon as it found out, but the breach and leaks reportedly occurred for roughly two months before Equifax was able to discover it. "It was a full-on investigation with the postal service inspector and all three credit bureaus". Companies that want the best chances of effective remediation will need to test the plan and prepare for the worst, refine the plan as a result of regular testing, and ensure key stakeholders understand their responsibilities for the remediation process. "And we will continue to update everyone on our progress".