How to avoid the next Equifax credit reporting breach
Posted On August 5, 2021
By now, most of us have heard about the Equifax hack and the fallout it’s caused.
The news, in many ways, has been predictable.
The hack was a matter of national security and the company’s data was exposed to hackers.
Equifax’s data included names, addresses, birthdates, Social Security numbers, credit card numbers, and other personal information, including credit card data that can be used to trace a credit history.
And the company didn’t just let the hackers get away with stealing your credit information.
Equiv was also a target of the Equation Group, a cyber-criminal group that claimed responsibility for hacking Equifax into data from other companies.
And there’s been some speculation that the company might have let the attackers access its internal network to gather information about customers.
There are still a lot of unanswered questions.
There have been reports that Equifax knew about the data breach and didn’t report it.
There were reports that there were people who used the Equiv credit reporting system, but the company denied any involvement.
And then there were reports of Equifax executives trying to help the hackers evade capture.
EquiTrends, a security researcher who studies cybersecurity, told the BBC that he was told the Equations were trying to avoid detection by not alerting authorities or not alert customers.
But in a statement, Equifax denied any wrongdoing and said it was trying to be as transparent as possible about the breach.
Equigest, another security firm that has investigated the breach, also told the New York Times that the Equitash company wasn’t involved in the hack and didn.
“Equifax was not involved in any breach of Equiv.
We had not, nor were we planning to, take any action to help any party with this incident,” Equifax said.
And, for now, the Equicast database remains private.
But that may change.
On Tuesday, EquiTrends reported that Equiv had started releasing a public dataset to allow anyone to review and verify that its databases are safe.
And it has also begun to make changes to the way Equifax reports breaches.
“We are releasing data that allows you to review whether you have been compromised or not,” Equigests CEO Joe Mauer said in a conference call with analysts.
“In our initial announcement, we mentioned that we were not disclosing the data to any third party.”
Mauer told reporters that the data would be publicly available for the next 12 months, but that he wasn’t sure when that would be.
Equivests new policy also suggests that the public will soon be able to see how Equifax responds to attacks, how many of its data are breached, and how many users have been impacted.
In the future, Equiv may begin to release some of the data that it already has on its public datasets, too.
But as far as the EquiSts data goes, it’s a pretty public database.
The company said it has no plans to share it.