drewfx1
The core of the problem is all of the supposedly personal information is widely known because we have had to give it to everyone repeatedly over a period of decades. It's a charade to think that information is secret or personal and thus somehow uniquely identifies anyone or can be safeguarded.

 
Agree. Think of how many institutions that should know better rely on a few basic pieces of information for access. I call the phone company with a question about my account: phone number, name, last four digits of my Social Security number. Or my credit union: account number, name, last four digits of my Social Security number. Add birth date, address, and mother's maiden name,  and you've covered just about every routine "security" protocol used to identify you. All information that isn't really secret to begin with.
 
A big part of the problem is how eager companies are to grant credit in the expectation they will make money off us. I can walk into a department store and get a new credit card in about five minutes. It shouldn't be that easy. But then, consumers would have to be willing to give up some of the convenience that comes with how businesses operate today. I'd be glad to put up with a little inconvenience if it made the system more secure.

bitflipper
Personally, I think Equifax should go down for this. Out of business. Gone. Sued into oblivion.
 

The only thing that's going to happen, gentlemen, is that even more of the regulations that were supposed to help protect us on this and a whole spectrum of other somewhat related issues will be nullified.
 
I sincerely hope I'm in error, but I doubt that I am.

bitflipper
When Social Security was first introduced, a lot of people were suspicious that it was a government plot to institute a universal identity card. So the cards used to say right on them "not for purposes of identification". They don't say that anymore.

mine still does (I have my original from 1970!)

bitflipper
Personally, I think Equifax should go down for this. Out of business. Gone. Sued into oblivion.
 
Of course, I felt the same way about Jack in the Box after they killed a bunch of people. Yet they remain.

My new next door neighbor works from home for Experian. He, too, thinks they won't survive this. One additional kicker that hasn't been mentioned in this thread yet is that a couple of high level execs (C- and/or President-level) netted a couple of million dollars by selling off a bunch of their stock just before publicly announcing the breach.
 
Next level STUPID.

• You know your company's screwed
• You know YOU are also screwed
• You have lots of stock that will soon be worthless
• You sell the stock before anyone else knows what's going on
• You shelter the profit with relatives
• You go to jail (aka Country Club confinement) for a bit
• You come out about where you would have been financially, but your family is taken care of

 
I know someone who did just that.

craigb

bitflipper
When Social Security was first introduced, a lot of people were suspicious that it was a government plot to institute a universal identity card. So the cards used to say right on them "not for purposes of identification". They don't say that anymore.

No, actually it was a government plot to institute an illegal multi-level pyramid scheme that benefits the early adopters and screws the later generations (like mine).  I've paid a ton in and, it's a good bet, there won't be anything left when I hit their so-called (and moving target) retirement age.
 
[conspiracy rant]
Almost makes me wonder if it wasn't someone in our own government that hacked Equifax so they can use the information against us...
[/conspiracy rant]

Bernie Madoff [sp.?] went to prison for the same thing that SS is.

craigb

• You know your company's screwed
• You know YOU are also screwed
• You have lots of stock that will soon be worthless
• You sell the stock before anyone else knows what's going on
• You shelter the profit with relatives
• You go to jail (aka Country Club confinement) for a bit
• You come out about where you would have been financially, but your family is taken care of

 
I know someone who did just that.

 
Reminds me of something - when I was in the sign trade we had a supplier of frames and boxes who knew they were going under. The last thing they did was to order truckloads of aluminium section from their supplier, cut it up and sell it for scrap, pocket the cash.
 
Talk about cynical.

jamesg1213

craigb

• You know your company's screwed
• You know YOU are also screwed
• You have lots of stock that will soon be worthless
• You sell the stock before anyone else knows what's going on
• You shelter the profit with relatives
• You go to jail (aka Country Club confinement) for a bit
• You come out about where you would have been financially, but your family is taken care of

 
I know someone who did just that.

 
Reminds me of something - when I was in the sign trade we had a supplier of frames and boxes who knew they were going under. The last thing they did was to order truckloads of aluminium section from their supplier, cut it up and sell it for scrap, pocket the cash.
 
Talk about cynical. being ethically and morally bankrupt.

Edited for accuracy.