Equifax execs sold stock before announcing company had been hacked
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3   BayAreaObserver   ignore (1)   2017 Sep 11, 6:30am   ↑ like (0)   ↓ dislike (0)     quote      

We're all Equifucked !

Every company is a tech company, and that's a big problem. Or rather, either every company is a tech company but most suck at it, or most aren't tech companies but should be. Either way, we're gonna have a bad time. Stock photo companies oughta be making more images of hackers because that cat burglar / hoodie dude behind a computer isn't going to cut it when sh*t hits the fan on a weekly basis.

Somehow, no one seemed to realize that connecting the Internet to everything was a terrible idea despite also being a great idea. We built information super-highways...yay, great...but most businesses forgot the guardrails.

The Equifax disaster is just warning shot compared to what's to come.

More: https://finance.yahoo.com/news/apos-equif-cked-155729690.html?icid=ref_fark&utm_source=fark&utm_medium=website&utm_content=link&ICID=ref_fark

Saw a funny on the Detroit News - They ran a piece saying Equifax had a "Cyber Intrusion" - now doesn't that sound so much better than being hacked ? Makes you feel better about the whole thing to now doesn't it ?
5   Dan8267   ignore (3)   2017 Sep 15, 11:50am   ↑ like (0)   ↓ dislike (0)     quote      

tovarichpeter says
Equifax execs sold stock before announcing company had been hacked

20 years in prison for insider trading and confiscation of all his assets. Problem solved.
6   Satoshi_Nakamoto   ignore (0)   2017 Sep 15, 12:08pm   ↑ like (1)   ↓ dislike (0)     quote      

Booger says

Looks totally qualified. Next job - cardio surgeon.
7   Booger   ignore (0)   2017 Sep 15, 2:01pm   ↑ like (3)   ↓ dislike (0)     quote      

Hmm says on your resume that you're a music major..

"I self-identify as head of security for a massive credit company"
8   BayAreaObserver   ignore (1)   2017 Nov 5, 10:34am   ↑ like (0)   ↓ dislike (0)     quote      

Equifax clears execs in data breach insider trading probe.

Four Equifax executives were not aware of the massive data breach at the credit reporting agency when they sold off more than $1.5 million in company stock before the breach became public knowledge, the company said Friday.

In the wake of the breach that exposed the personal information of 145.5 million consumers to hackers, questions were raised about the stock trades of four company executives – John Gamble, chief financial officer; Joseph Loughran, president, U.S. information solutions; Rodolfo Ploder, president, workforce solutions; and Douglas Brandberg, senior vice president, investor relations.

The executives made the trades in a period between when the breach took place and when Equifax disclosed it to the public.

At issue was whether the executives knew about the breach before selling of some of their stock, thereby engaging in insider trading, a question that more than third of the members of the Senate asked the Securities and Exchange Commission, the Department of Justice, and the Federal Trade Commission to investigate.

The credit reporting agency launched its own investigation into the trades and found that none of the execs were aware of the breach when the made the trades in question.

The company released the results of its investigation on Friday.

To review the insider trading questions, the company said that it formed a special committee, conducted an “extensive review” of documents and communications during the period surrounding the four officers' trading in Equifax securities.

Included in that document review was the examination of more than 55,000 documents, including emails, text messages, phone logs, and other records, the company said.

The special committee also conducted “dozens” of interviews with individuals that were involved in or had knowledge of the breach investigation, along with those who needed to clear the trades before they took place. The committee also conducted “lengthy” in-person interviews with each of the four senior officers who executed the trades in question.

According to Equifax, the committee’s investigation determined that “none of the four executives had knowledge of the incident when their trades were made, that preclearance for the four trades was appropriately obtained, that each of the four trades at issue comported with company policy, and that none of the four executives engaged in insider trading.”

To determine whether any of the execs engaged in insider trading, the committee reviewed all of the execs’ Equifax emails, texts, calendars, voicemails, phone logs, and electronic documents, along with all Equifax emails and texts of each of their administrative assistants, for the period of July 29 through Aug. 2, 2017.


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