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Equifax Loses Data on 143 Million customers, unlikely to offer help to victims

Equifax (photo by Mike Stewart/AP c/o <a href=http://nymag.com/selectall/2017/09/equifax-hack-143-million-us-customers-credit-data-leaked.html>Nymag.com</a>)
Equifax (photo by Mike Stewart/AP c/o Nymag.com)

Oh look! Yet another data breach. This time affecting Credit Reporting Company Equifax; one of the three businesses most directly responsible for ID theft woes. Most companies don't offer any information or help to get your credit reports frozen (the only actual solution for ID theft) and I don't expect Equifax to be any different.

Equifax has a sorted past with multiple class action lawsuits and various other kinds of misconduct that had to be addressed by the Federal Trade Commission. Chances are they'll use this opportunity to offer free credit monitoring to appear to help while really just trying to avoid lawsuits and I guarantee, they won't talk about credit-freezes at all. Don't let them snow you and freeze your credit reports now!

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3 Comments to “Equifax Loses Data on 143 Million customers, unlikely to offer help to victims”

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Just came across your youtube videos today after hearing about the equifax breach, thanks for the info! I’ve put freezes on my credit reports.

I’m worried though, as it looks like somebody can request your pin on experian by using the exact same SSN that got compromised:
https://www.experian.com/ncaconline/freezepin

I’m freaking out because, what does one do in that case?

    Well. Today I learned something new. It’s unreal that these slimeball companies would make it easy to undo the only security measure available. I’m sorry to say that if this is really as simple as it seems, someone COULD undo your protection fairly easily. The only good news is that it’s unlikely that someone would go through the effort and would instead move to the next name on the list. Regardless, you’re still better protected by having the freeze in place than not.

      So the same philosophy as home security, you just need to make it not worth the effort to break in? or kinda like how you don’t need to outrun a bear, you just need to outrun the person next to you? Makes sense.

      So, it was my bad, I should correct myself on my last post. I took a look again today. It seems like Experian’s PIN could be easily compromised based off of the information stolen. (There are follow up questions, but you can figure those out fairly easily too)

      Turns out Equifax and Transunion do require written requests with photo ID and other certificates to a physical address, so hopefully, like you said, it’ll be more effort than what it’s worth to the other guy. Though it seems like Equifax’s PIN is simply a timestamp of when you put the freeze in place, so some folks worry that there’s going to be brute force methods to try to guess it since so many people froze their reports in the few days after the breach reveal.

      Anyway, just needed to correct the record. My apologies

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