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News & Current Events Discuss SEnator on Equifax hack: Someone needs to go to jail at the General Forum; https://www.yahoo.com/tech/u-senator...--finance.html Three days after Equifax discovered the breach, three top company executives, including Chief Financial Officer John Gamble and a ...

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Old 09-12-2017, 01:06 PM
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Default SEnator on Equifax hack: Someone needs to go to jail

https://www.yahoo.com/tech/u-senator...--finance.html

Quote:
Three days after Equifax discovered the breach, three top company executives, including Chief Financial Officer John Gamble and a president of a unit, sold Equifax shares or exercised options to dispose of stock worth about $1.8 million, regulatory filings show.

Equifax said in a statement last week that the executives were not aware that an intrusion had occurred when they sold their shares.
I give Equifax a Pinnocchio rating of 5,000,000.

This is serious stuff, 1.43m people could be effected. Of course, Equifax initially tried to sell people their credit monitoring services. Visual - green scum on a pond.....
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Old 09-12-2017, 02:12 PM
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Default Re: SEnator on Equifax hack: Someone needs to go to jail

I see a two fold question here...


O#... ff to jail.. .... These clowns want their profit before securing others vital data.

Yet in truth I believe company can stop their data storage from being hacked.

#2 So without real security why is our govt., pressing for a cash less society? why not wait till online items can be secured?


Quote:

U.S. senator on Equifax hack: 'Somebody needs to go to jail'

By Pete Schroeder

ReutersSeptember 12, 2017


WASHINGTON (Reuters) - A U.S. senator on Tuesday called for a criminal investigation of executives from credit bureau Equifax Inc for stock sales after a massive data breach this summer, and said their actions were comparable to insider trading.

The breach, which the company learned about in July but did not acknowledge until this month, also prompted expressions of concern from U.S. Treasury Secretary Steven Mnuchin and the Federal Trade Commission. Cyber security experts believe it is one of the largest data hacks ever disclosed.

Senator Heidi Heitkamp, a Democrat who sits on the Senate Banking Committee, said it was "disturbing" that it appeared executives sold nearly $2 million worth of company stock in the time between learning of a sweeping hacker intrusion and making it public.

"If that happened, somebody needs to go to jail," Heitkamp said at a credit union industry conference in Washington. "It's a problem when people can act with impunity with no consequences. How is that not insider trading?"

https://finance.yahoo.com/news/u-sen...--finance.html
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Old 09-12-2017, 03:26 PM
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Default Re: SEnator on Equifax hack: Someone needs to go to jail

Quote:
Originally Posted by mlurp View Post
I see a two fold question here...


O#... ff to jail.. .... These clowns want their profit before securing others vital data.

Yet in truth I believe company can stop their data storage from being hacked.

#2 So without real security why is our govt., pressing for a cash less society? why not wait till online items can be secured?

https://finance.yahoo.com/news/u-sen...--finance.html
Because on-line items will never be 100% secured. It's virtually impossible.

The government wants the people 'cashless', so every nickel and dime can be tracked and traced. Hold a yard sale? Taxable income. Betting? Taxable income. Owe a fine? Tag from your electronic account. Speeding ticket? Zap, it's paid for. It doesn't matter if you disagree, I can see it as quite possible the 'innocent until proven guilty' could easily be flip-flopped if it all was electronic.

My biggest issue is the sudden flurry of selling stocks by the top execs, but Equifax says nah, they didn't know about the breach.
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Old 09-12-2017, 10:37 PM
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Default Re: SEnator on Equifax hack: Someone needs to go to jail

As I said site or company is totally secure online.. We all know this. But these big businesses with so much personnel data of users seem to not realize this.

What these execs did was stupid, out right stupid.. And shows what they value the most.

They waited till the company had to go public and did the greedy thing just before.

As for the govt. your correct GottaGo. But I believe the main thrust is to stop black markets and drug sales/buys.

As the govt does by now realize it is wasting so much $ in this foolish drug war.

Heck if my numbers are right there are 22 states that allow for medical marijuana.
And a growing number of states which allow for recreation use of the weed.

And a Congress that doesn't want to repeal it's use. Just ask Attorney General Sessions..
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Old 09-13-2017, 08:15 AM
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Default Re: SEnator on Equifax hack: Someone needs to go to jail

Quote:
Originally Posted by mlurp View Post
As I said site or company is totally secure online.. We all know this. But these big businesses with so much personnel data of users seem to not realize this.

What these execs did was stupid, out right stupid.. And shows what they value the most.

They waited till the company had to go public and did the greedy thing just before.

As for the govt. your correct GottaGo. But I believe the main thrust is to stop black markets and drug sales/buys.

As the govt does by now realize it is wasting so much $ in this foolish drug war.

Heck if my numbers are right there are 22 states that allow for medical marijuana.
And a growing number of states which allow for recreation use of the weed.

And a Congress that doesn't want to repeal it's use. Just ask Attorney General Sessions..
I wouldn't put drug sales or black market at the top of the list of governmental concerns on this subject.

If the US government could create a cashless society, they could control who does or does not have wealth. Bring on the One World government, and the true elitists would have all the control.

But we divert from the OP. Equifax's responsibility to the people whose information was hacked. I'm predicting a bit of a collapse (their stock has been dropping like mad) of the absolute of credit ratings.
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Old 09-14-2017, 12:42 AM
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Default Re: SEnator on Equifax hack: Someone needs to go to jail

Found some more updated info from Equifax... They are back peddling after trying to get from under this mess.

https://www.equifaxsecurity2017.com/
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Old 09-14-2017, 09:23 AM
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Default Re: SEnator on Equifax hack: Someone needs to go to jail

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Originally Posted by mlurp View Post
Found some more updated info from Equifax... They are back peddling after trying to get from under this mess.

https://www.equifaxsecurity2017.com/
I believe they are offering 30 days free.... seriously? Talk about a tear in the ocean.

I could well imagine their fall continuing.
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Old 09-14-2017, 03:39 PM
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Default Re: SEnator on Equifax hack: Someone needs to go to jail

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Originally Posted by GottaGo View Post
I believe they are offering 30 days free.... seriously? Talk about a tear in the ocean.

I could well imagine their fall continuing.
We and many more are upset that a life time is reduced to a 30 day free period.

Some Senator was very upset over this. Which might make Equifax change it's
offering.
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Old 09-14-2017, 03:43 PM
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Default Re: SEnator on Equifax hack: Someone needs to go to jail

A search turned up this;

Quote:
Finally, Some Answers From Equifax to Your Data Breach Questions

In the last few days, several hundred of you have sent me questions or tweeted about the Equifax breach and its credit freeze process. I don’t blame you, given that you’ve melted their websites and phone banks since the company announced last week that up to 143 million people may have had their Social Security numbers and other data stolen.

In the absence of much, if any, cogent response from Equifax in the early days of its crisis, I’ve been sending your questions to its representatives and putting them, unanswered, in my columns when I can’t get a reply.

Now, the company is finally answering some of them. Here’s what I’ve learned about, among other things, Equifax’s credit freeze process, whereby people lock up their files so that no thief can get new credit by impersonating them. One cautionary lesson: The company doesn’t always get its answers right.
................................... Continued
https://www.nytimes.com/2017/09/14/y...ta-breach.html

I use Equifax myself but need not worry as I never placed vital data online with them. I use the No Credit even to myself. That alone is worth the price each month.
As I found that each month several credit attempts were being made on my credit lines.



Also check this Search Page;


https://www.bing.com/search?q=latest...ZI&form=MOZSBR
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Old 09-14-2017, 09:19 PM
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Default Re: SEnator on Equifax hack: Someone needs to go to jail

Well this will piss off quite a few people including GottaGo.. As it seems Equifax had a patch 2 months before they got hacked, to secure their site but never applied it.

I get M$ CVE patch reports once a month along with Updates notices. And Equifax is suppose to secure peoples data...
Again it shows their number one goal. Other peoples money!!!!!

Do note within this news report are a few links that one might need to visit.


Quote:
Equifax had patch 2 months before hack and didn’t install it, security group says

SAN FRANCISCO — Hackers took advantage of an Equifax security vulnerability two months after an industry group discovered the coding flaw and shared a fix for it, raising questions about why Equifax didn't update its software successfully when the danger became known.

A week after Equifax revealed one of the largest breaches of consumers' private financial data in history — 143 million consumers and access to the credit-card data of 209,000 — the industry group that manages the open source software in which the hack occurred blamed Equifax.

"The Equifax data compromise was due to (Equifax's) failure to install the security updates provided in a timely manner," The Apache Foundation, which oversees the widely-used open source software, said in a statement Thursday.

Equifax told USA TODAY late Wednesday the criminals who gained access to its customer data exploited a website application vulnerability known as Apache Struts CVE-2017-5638.

The vulnerability was patched on March 7, the same day it was announced, The Apache Foundation said. Cybersecurity professionals who lend their free services to the project of open-source software — code that's shared by major corporations and that's tested and modified by developers working at hundreds of firms — had shared their discovery with the industry group, making the risk and fix known to any company using the software. Modifications were made on March 10, according to the National Vulnerability Database.
......................................... Continued
https://www.usatoday.com/story/money...uts/665100001/
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