Economy

Criminal investigation into Equifax data breach underway

Criminal investigation into Equifax data breach underway”

Former Equifax Security Chief Susan Mauldin is the reason Equifax was hacked.

It is unknown who was responsible for the hack disclosed earlier this month. The executive retirement announcements come as a direct result of the massive data breach revealed by Equifax on September 7. However, Equifax denies the incidents are related.

The breach may have compromised personal information from as many as 143 million Americans.

New York Gov. Andrew Cuomo is proposing new state regulations for credit reporting agencies. "While Equifax fully understands the intense focus on patching efforts, the company's review of the facts is still ongoing".

As many as 400,000 British consumers may have had their personal information stolen in the Equifax hack, which could make it "one of the biggest data breaches on record in the United Kingdom", the Financial Times reported. What has not been known, is how exactly many individuals in other countries are at risk.

That's just one scam you might see after Equifax's recent data breach. In Canada, the numbers are not almost as certain as Equifax has not publicly disclosed any estimate.

The company is now working with police officials and the Office of the Privacy Commissioner of Canada.

Equifax is also facing several inquiries and class-action lawsuits, including Congressional investigations, queries by the Federal Trade Commission and the Consumer Financial Protection Bureau, as well as several state attorneys general. We strongly encourage anyone who thinks they may be affected by the Equifax breach to log onto the company's website or call the consumer information line. Stop. Don't tell them anything,"Lisa Weintraub Schifferle, Attorney, FTC, Division of Consumer and Business Education, wrote in a blog post". When you get your credit score in the mail each month, Equifax appears at the upper right of the statement.

Freezes aren't always free, though, and Equifax took heat for not making them free.



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