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Credit Bureaus are an anachronism
By tovarichpeter
2017 Sep 8, 4:26pm
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BayAreaObserver
2017 Sep 9, 2:35am
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Is Equifax Data On The Dark Web? Not Yet, But It Will Be.
As many as 143 million in the U.S. could be affected, as well as some consumers in the United Kingdom and Canada.
That information all has particular value on the dark web, and experts believe it’s more than likely the information will appear there in the future.
“We expect it is only a matter of when, not if, this data appears on the Dark Web market,” Ondrej Vlcek, chief technology officer and general manager of consumer business at security firm Avast, told International Business Times.
Similarly, director of analysis at data intelligence firm Terbium Labs Emily Wilson said, “we absolutely expect to see this information appear on the dark web in the future.”
While the release of the data online seems to be a certainty, in the immediate wake of the hack the data is yet to be seen.
The first potential lead appeared early Friday when a dark website called BadTouch appeared online and claimed to be selling a database of data stolen from Equifax.
The site was set up by an apparent duo of hackers who identify themselves as the PastHole Hacking Team. The collective claims to have access to personally identifying information of more than 140 million people—including social security numbers, driver’s license numbers, dates of birth and addresses—as well as more than 200,000 credit card numbers.
More: http://www.ibtimes.com/equifax-data-dark-web-not-yet-it-will-be-2587884
Equifax Lobbied To Kill Rule Protecting Victims Of Data Breaches
On Friday, social media users spotlighted fine print on Equifax’s website that appears to force users to agree to waive their class action rights if they use the company’s website to see if their personal data was exposed by the recent hack. It is precisely the kind of arbitration clause that a pending Consumer Financial Protection Bureau (CFPB) rule is designed to outlaw — if Republicans and the Trump administration allow it to go into effect as scheduled later this month.
Federal documents reviewed by International Business Times show that in response to that 2016 rule, the Consumer Data Industry Association (CDIA) — which says it is “the trade association which represents Equifax” — pressed regulators to back off the proposed prohibitions, saying the regulations would subject data companies to tough penalties if during a class action suit they were found to have broken the law.
In one section of the letter, CDIA declares that federal regulators “should exempt from its arbitration rule class action claims against providers of credit monitoring products.” The letter asserted that allowing customers to sue companies “would not serve the public interest or the public good” because it could subject the companies to “extraordinary and draconian civil liability provisions” under current law. In another section of the letter, Equifax’s lobbying group says that a rule blocking companies from forcing their customers to waive class action rights would expose credit agencies “to unmanageable class action liability that could result in full disgorgement of revenues” if companies are found to have illegally harmed their customers.
More: http://www.ibtimes.com/political-capital/equifax-lobbied-kill-rule-protecting-victims-data-breaches-2587929
Remember everyone the new regime in Washington is looking out for you and going to MAGA for someone - but probably not you....
BayAreaObserver
2017 Sep 9, 2:35am
↑ like (1)
↑ dislike (1)
quote
Is Equifax Data On The Dark Web? Not Yet, But It Will Be.
As many as 143 million in the U.S. could be affected, as well as some consumers in the United Kingdom and Canada.
That information all has particular value on the dark web, and experts believe it’s more than likely the information will appear there in the future.
“We expect it is only a matter of when, not if, this data appears on the Dark Web market,” Ondrej Vlcek, chief technology officer and general manager of consumer business at security firm Avast, told International Business Times.
Similarly, director of analysis at data intelligence firm Terbium Labs Emily Wilson said, “we absolutely expect to see this information appear on the dark web in the future.”
While the release of the data online seems to be a certainty, in the immediate wake of the hack the data is yet to be seen.
The first potential lead appeared early Friday when a dark website called BadTouch appeared online and claimed to be selling a database of data stolen from Equifax.
The site was set up by an apparent duo of hackers who identify themselves as the PastHole Hacking Team. The collective claims to have access to personally identifying information of more than 140 million people—including social security numbers, driver’s license numbers, dates of birth and addresses—as well as more than 200,000 credit card numbers.
More: http://www.ibtimes.com/equifax-data-dark-web-not-yet-it-will-be-2587884
Equifax Lobbied To Kill Rule Protecting Victims Of Data Breaches
On Friday, social media users spotlighted fine print on Equifax’s website that appears to force users to agree to waive their class action rights if they use the company’s website to see if their personal data was exposed by the recent hack. It is precisely the kind of arbitration clause that a pending Consumer Financial Protection Bureau (CFPB) rule is designed to outlaw — if Republicans and the Trump administration allow it to go into effect as scheduled later this month.
Federal documents reviewed by International Business Times show that in response to that 2016 rule, the Consumer Data Industry Association (CDIA) — which says it is “the trade association which represents Equifax” — pressed regulators to back off the proposed prohibitions, saying the regulations would subject data companies to tough penalties if during a class action suit they were found to have broken the law.
In one section of the letter, CDIA declares that federal regulators “should exempt from its arbitration rule class action claims against providers of credit monitoring products.” The letter asserted that allowing customers to sue companies “would not serve the public interest or the public good” because it could subject the companies to “extraordinary and draconian civil liability provisions” under current law. In another section of the letter, Equifax’s lobbying group says that a rule blocking companies from forcing their customers to waive class action rights would expose credit agencies “to unmanageable class action liability that could result in full disgorgement of revenues” if companies are found to have illegally harmed their customers.
More: http://www.ibtimes.com/political-capital/equifax-lobbied-kill-rule-protecting-victims-data-breaches-2587929
Remember everyone the new regime in Washington is looking out for you and going to MAGA for someone - but probably not you....
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bob2356
2017 Sep 9, 4:54am
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BayAreaObserver says
That's the problem. No one actually asked trump MAGA for who.
BayAreaObserver says
MAGA for someone - but probably not you.
That's the problem. No one actually asked trump MAGA for who.
3
APOCALYPSEFUCK_is_ADORABLE
2017 Sep 9, 4:56am
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EVERYONE! is FUCKED!
Tomorrow, every AMERICA!n will wake up with 84 mortgages and 155 maxed out credit cards with lines of $100,000 each. You're FREE! to keep up the payments while you spend 24 hours a day for the rest of your life filling in forms and waiting on hold.
APOCALYPSEFUCK_is_ADORABLE
2017 Sep 9, 4:56am
↑ like (3)
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quote
EVERYONE! is FUCKED!
Tomorrow, every AMERICA!n will wake up with 84 mortgages and 155 maxed out credit cards with lines of $100,000 each. You're FREE! to keep up the payments while you spend 24 hours a day for the rest of your life filling in forms and waiting on hold.
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