700 Credit Scores For Everybody!

09 Sep, 2017

Equifax Inc, a provider of consumer credit scores, said on Thursday that personal details of as many as 143 million U.S. consumers were accessed by hackers between mid-May and July, in what could be one of the largest data breaches in the United States.

The company’s shares fell nearly 19 percent in after-market trading as investors reacted to possible consequences of the exposure of sensitive data of nearly half of the U.S. population.

Atlanta-based Equifax said in a statement that it discovered the breach on July 29. It said criminals exploited a U.S. website application vulnerability to gain access to certain files that included names, Social Security numbers and driver’s license numbers.

In addition, credit card numbers of around 209,000 U.S. consumers and certain dispute documents with personal identifying information of around 182,000 U.S. consumers were accessed. Information of some UK and Canadian residents was also gained in the hack, Equifax said.

Equifax said in its statement that it was working with law enforcement agencies and has hired a cyber-security firm to investigate the breach. It said its investigation is “substantially complete,” and expects it will be completed in the coming weeks.

The company declined to comment beyond its statement.

The Federal Bureau of Investigation is tracking the situation, a spokeswoman for the agency said.

Equifax handles data on more than 820 million consumers and more than 91 million businesses worldwide and manages a database with employee information from more than 7,100 employers, according to its website.

Equifax said consumers could check if their information had been impacted at, www.equifaxsecurity2017.com.

Three days after Equifax discovered the breach, three top Equifax executives, including Chief Financial Officer John Gamble and a president of a unit, sold Equifax shares or exercised options to dispose off stock worth about $1.8 million, regulatory filings show. It was not clear whether these transactions were part of a pre-arranged sales plan.

Equifax said in a statement that the executives were not aware that an intrusion had occurred when they sold their shares.

Reuters

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