Equifax Hack and potential Identity Theft

[zombie]

this seems pretty important for most here.



start from around the 3 minute mark.

[Foo]

Identity theft sucks.

[DancesWithWerewolves]

Looks like I'm fine, but this is fucking horrible.

[showa58taro]

Hate to inject the obvious politics into the tragedy, but you'll notice that a lot of these issues cropped up due to under-regulation by government.

[Foo]

Hate to inject the obvious politics into the tragedy, but you'll notice that a lot of these issues cropped up due to under-regulation by government.

Hacking, data theft, and identity theft are all illegal.

[showa58taro]

Hate to inject the obvious politics into the tragedy, but you'll notice that a lot of these issues cropped up due to under-regulation by government.

Hacking, data theft, and identity theft are all illegal.

They are indeed.

[showa58taro]

Of course when I said under-regulation, I clearly meant under-regulation of criminals, not of Equifax and the Credit agencies, which fall into a grey zone and therefore avoid a lot of the integrity audits we insist for banks and financial institutions. I obviously couldn't have meant that. I meant that we should regulate illegal hacking...

[Tiggnutz]

Problem is the punishments are bullshit, need to be way more severe dropping the hammer on these scumbags.

[showa58taro]

Problem is the punishments are bullshit, need to be way more severe dropping the hammer on these scumbags.

Hence the point of regulators needing to be involved more.

As it stands, the organizations like Equifax fall into this regulatory grey zone where they subscribe to banking-style rules around corporate governance, but they don't actually have to comply with, and are not the subject of investigations into data protection and other ITGCs and IT-Application controls work the way that the banks would be. They are similarly exempt (especially in the US) from several aspects of audit. Most of these would've detected the weakness in updating patches which resulted in the breach. But more than that, being the actual subject of regulation from the FTC. But the FTC cannot impose significant fines over data protection breaches, disincentivizing the market from trying to be up to speed on several of these regulations. By contrast the CFPB (Consumer Financial Protection Bureau) has tended to leave data privacy enforcement, and only acts in a supervisory role. As a result, a breach like this is more likely, and is harder to be punished by regulators for breaches of this nature.

[Foo]

Of course when I said under-regulation, I clearly meant under-regulation of criminals, not of Equifax and the Credit agencies, which fall into a grey zone and therefore avoid a lot of the integrity audits we insist for banks and financial institutions. I obviously couldn't have meant that. I meant that we should regulate illegal hacking...

It is more bullshit though, brought to you by the DNC, and you know how good they are at preventing hacking!

Equifax is gonna be crushed in civil court for this. If executives sold stock because they were aware of this before the public, they will face jail time.

The solution to everything is not more government. All that does is bring in a clown show of idiot control freaks who think they can control the uncontrollable. How are more regulations working for gun violence in liberal cities?

[Tiggnutz]

Of course when I said under-regulation, I clearly meant under-regulation of criminals, not of Equifax and the Credit agencies, which fall into a grey zone and therefore avoid a lot of the integrity audits we insist for banks and financial institutions. I obviously couldn't have meant that. I meant that we should regulate illegal hacking...

It is more bullshit though, brought to you by the DNC, and you know how good they are at preventing hacking!

Equifax is gonna be crushed in civil court for this. If executives sold stock because they were aware of this before the public, they will face jail time.

The solution to everything is not more government. All that does is bring in a clown show of idiot control freaks who think they can control the uncontrollable. How are more regulations working for gun violence in liberal cities?

Could not agree more and the answer to hacking and gun violence is the same. LONG ASS PRISON TIME for offenders!

[Foo]

Yup, getting criminals out of society and making the juice not worth the squeeze are the most effective deterrents.

Also should be noted that we have to start busting heads on the international cyber crime.