FTC is investigating the Equifax breach

Oscar PerrySep 15, 2017

In an updated statement on its Equifax Security website, it said that it has been "intensely investigating the scope of the intrusion with the assistance of a leading, independent cybersecurity firm to determine what information was accessed and who has been impacted" and the firm determined that the attackers exploited the website application vulnerability.

As you may be well aware by now, Equifax last week disclosed a breach impacting approximately 143 million United States consumers as well as some UK and Canadian residents.

A bipartisan group of 36 USA senators recently called for an investigation by the Securities and Exchange Commission (SEC), the Department of Justice (DOJ) and the Federal Trade Commission into the sale of approximately $2 million in Equifax securities held by company management prior to the news release of a large-scale network cybersecurity breach.

The FTC is not the only Washington authority looking into the breach. "So if you print up a fake social security card and walk into a bank that the originator of that social security number has never done business with, you can easily open an account in their name and be them for all intents and purposes". "We know that criminals exploited a USA website application vulnerability", it added. It was also responsible for the public website of Equifax.

Our Social Security numbers are quite vulnerable. "It is easy to Monday-morning quarterback and say, 'Why didn't you patch?' The pragmatic reality for many organizations is that patching doesn't occur as quickly as one would like".

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Equifax representatives did not immediately respond to requests for comment on the FTC probe. Don't give out personal information to those who contact you asking for information to verify accounts, and be wary of clicking on links or downloading attachments in email messages.

The company said that more than 200,000 credit card numbers were illegally obtained, in addition to 'certain dispute documents with personal identifying information for approximately 182,000 USA consumers'. On Tuesday, a joint letter from Democrats on the Energy and Commerce Committee called on Equifax's CEO to release more data on the company's response to the compromise.

Maura Healey, the attorney general of MA, said this week she intends to file the first state lawsuit against Equifax over the breach.

Communications expert Warren Weeks believes Equifax could not have handled this issue in a worse way.

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