Three Equifax senior executives sold stock before revelation of breach

Posted September 12, 2017

The stolen data includes names, Social Security numbers, birth dates, addresses and driver's license numbers. "If they did not know about it, they will be criticized for being out of touch and not demanding the reporting expected of public company management - let alone a company with Equifax's mission". I would also encourage anyone who chooses to sign up for the services Equifax is offering to not rely exclusively on it for credit and identity protection.

Company executives are also under scrutiny, after it was found that three Equifax executives sold shares worth a combined $1.8 million just a few days after the company discovered the breach, according to documents filed with securities regulators.

Montana consumers who would like more information on how to place a freeze on their credit file can visit the Montana Office of Consumer Protection website: dojmt.gov/consumer/identity-theft/. Social security numbers and other personally identifying information were accessed.

In basic terms, freezing your credit means placing restrictions on who can view your credit report.

More news: Dera headquarters search: More secrets of Gurmeet Ram Rahim exposed

"Equifax carries cybersecurity, crime, general-liability and other lines of insurance, and we have begun discussions with our carriers regarding the incident", a spokesperson said by email Saturday, without commenting further. "Organized criminals, they're buying and selling this information to be used, mostly for extending credit then buying something and getting money out of the deal".

Equifax is hardly the first company to be hit hard by hackers: Target, Home Depot, and Yahoo! all within the past four years.

He said if there's one company you should be able to trust, it's a credit reporting agency.

As if having a storm the size of France on its way wasn't enough to be going on with, Americans learned late Thursday that Equifax lost to hackers valuable identity information on about half the adults in the country.

More news: EU Court Chucks $1.2B Antitrust Fine Against Intel

To get more specific, the two contracts represent wagers that Equifax's stock price - which closed at $123.23 on Friday - will fall to either $100 or $105, respectively, by October 20. The company didn't announce the breach until months later to consumers.

Putting an extended alert on your credit report. Employers, landlords and utilities also use the bureaus' data to check up on consumers. Consumers can also check their credit report for free each year at annualcreditreport.com.

While their services are essential to the USA economy, the credit-reporting bureaus don't have the same regulatory oversight as the financial industry. It partly comes from the industry practice of mandatory arbitration, in which the fine print on many financial products says customers have to use a private third-party arbitration service in order to resolve their disputes. Online information about consumer financial protection issues is available at www.credit.maine.gov.

Inga Goddijn, executive vice president for Risk Based Security, which revealed the figures in its mid-year Data Breach QuickView report, said: "It is stunning to see the steady increase in the number of breaches impacting one million or more records".

More news: 'Dancing with the Stars' 25 Cast And Partners Revealed