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Discovery of an earlier Equifax hack complicates matters even further

Discovery of an earlier Equifax hack complicates matters even further

The bill would also make uniform the federal process for freezing credit, make illegal the selling of consumer data for marketing purposes while someone's credit is frozen, improve fraud alerts for consumers, allow consumers to obtain an additional free credit report per year and entitle consumers to a refund from Equifax if they paid for a post-hack credit freeze.

The credit monitoring agency says the "security incident" was on its corporate networks during tax season in March.

In a letter to Equifax on Tuesday, Attorney General Herbert Slatery says he's echoing a letter from 44 fellow attorneys general expressing concern over the breach.

Equifax hired the same cybersecurity company, Mandiant, to handle both breach investigations. Vitor De Souza, senior vice president for global marketing at FireEye Inc., Mandiant's parent company, declined to comment.

Equifax's stock has fallen more than a third since the scandal broke.




But the damage is done, and the company's intentions are clear: Protecting its executives and bottom line is vitally important.

Equifax has said the executives had no knowledge that an intrusion had occurred when the transactions were made. It has led to a lawsuit against the company by the state of MA, an investigation by the Federal Trade Commission, and the promise of congressional hearings. Equifax is offering free credit monitoring services in response to the breach, but the attorneys general today objected to Equifax "seemingly using its own data breach as an opportunity to sell services to breach victims", they wrote. Equifax hired Mandiant to help with the probe on August 2, and said the investigators eventually learned that the hackers had accessed the data in mid-May. People's Social Security numbers and their dates of birth are with them forever and do not change. The company's outside counsel, Atlanta-based law firm King & Spalding, first engaged Mandiant at about that time.

American consumers deserve compensation from Equifax. That's the same month a flaw was discovered in some software the company uses. Cost is often a consideration, but the victim company might also believe a breach's scope is limited. The three sold off shares worth over $1.8 million in early August, but Equifax maintains that the executives didn't know about the breach at the time, but there's no indication that "the transactions were part of pre-scheduled trading plans". Safeguarding your information and financial future?

In a statement to CNBC, an Equifax spokesman said the company told customers, affected individuals and regulators.

In short, you are nothing in America if you are not credit-worthy. According to a regulatory filing, which didn't indicate that the sale was part of a scheduled trading plan, the value of that transaction was $1.91 million, more than twice the size of his August 1 disposal of 6,500 shares for $946,374. "The two events are not related". Its lawyers say that Equifax's negligence exposed more than half the state's adult population to the breach, and the company was negligent in dealing with security threats, including the software vulnerability that has become the center of the investigation.


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