Economy

The Justice Department has reportedly opened an insider trading investigation at Equifax

The Justice Department has reportedly opened an insider trading investigation at Equifax”

On September 7, 2017, the company announced that criminals exploited a USA website application vulnerability to gain access to certain files. It's a scam. Equifax will not call you out of the blue. For impacted Canadians we will also be providing complimentary credit monitoring and identity theft protection for 12 months. They will be in the atrium from 10:30 a.m.to 4:30 p.m. The Senate Finance Committee is looking into the matter. Consumers report getting error messages and are unable to freeze their credit.

Somehow, that question did not occur to Equifax on September 7, when it first announced the breach. You will need it if you choose to lift the freeze.

Rep. Jim Himes, D-Conn., has introduced a House bill that would have similar provisions.

To place a security freeze, contact each of the nationwide credit reporting companies and supply your name, address, date of birth, Social Security number, and other personal information.

On 7 September the firm disclosed that hackers had accessed the personal details of millions of individuals, including 143 million U.S. citizens and about 400,000 British citizens.

"Credit reporting agencies have a fundamental responsibility to protect the personal information they're entrusted with", Schneiderman said in a statement Tuesday morning. Approximately 209,000 individuals had their credit card numbers stolen.

Equifax said the unauthorized access to the information occurred between mid-May and July, and was discovered by the company on July 29.

Warren said her office is conducting an investigation of the breach.

It is also unclear whether consumers' use of the TrueIdentity product would make it easier for TransUnion to continue selling those consumers' data (in the same way that Equifax and Experian do) than if they froze their files outright. Gary Peters, D-Mich. Equifax did not say in its statement what retirement packages the executives would receive.

More than one third of USA senators have called on the Securities and Exchange Commission, in addition to the Justice Department, to investigate Equifax. And Equifax faces multiple federal investigations on the breach as well as over reports that executives sold an unusual amount stock before the July hack was disclosed. "The CFPB is authorized to take enforcement action against institutions engaged in unfair, deceptive, or abusive acts or practices, or that otherwise violate federal consumer financial laws", the spokesman said.



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