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FTC Probing Equifax After Massive Data Breach

FTC Probing Equifax After Massive Data Breach

"If a company has a data breach, like a Home Depot or whatever, they can sell hammers, nails, wood, whatever and generate revenue", Jeff Dodge, senior vice president of investor relations at Equifax, said at an investor conference in November.

Leigh-Anne Galloway, cyber security resilience lead at Positive Technologies, said: "Given how often flaws of this nature are discovered, it's therefore not a huge surprise that an exploit of a vulnerability was the entry point for the Equifax breach".

The company disclosed the breach on September 7, saying thieves may have stolen the personal information of 143 million Americans in one of the largest hacks ever.

Sen. Mark Warner, D-Va., had asked the FTC to investigate the Equifax hack and the company's CEO, Richard Smith, has been invited to testify to the House Energy and Commerce Committee. In addition, credit card numbers for approximately 209,000 USA consumers, and certain credit dispute documents with personal identifying information for approximately 182,000 US consumers, were accessed.

Shares of Equifax have lost almost a third of their value in the week since the breach was disclosed. Equifax Canada did not respond to requests from The Canadian Press. "Americans need to know what information is being compiled and used about them and their families, including what they do online". Those pages contained more than 14,000 unencrypted personal records, including DNIs - Argentina's version of Social Security numbers.

The company has provided consumers in the USA with a website that shows whether they are at risk of identity theft and is allowing them to monitor their files for free for one year.




Equifax says the information accessed in this breach includes names, Social Security numbers, birth dates, addresses and, in some instances, driver's license numbers.

The company, which safeguards financial data for consumers applying for credit, said it learned of the breach on July 29 and "acted immediately" with the assistance of an independent cybersecurity firm to assess the impact.

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

More than a month elapsed between the Apache Struts fix became available and Equifax's hack.

"We're talking about the gateway to all of your financial information in your life", said Weeks, who is the principal of communication firm Weeks Media Group.

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