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Following data breach, 36 Senators request investigation into Equifax stock sales

Following data breach, 36 Senators request investigation into Equifax stock sales”

"If a company has a data breach, like a Home Depot or whatever, they can sell hammers, nails, wood, whatever and generate revenue", Jeff Dodge, senior vice president of investor relations at Equifax, said at an investor conference in November.

In an unusual move, the Federal Trade Commission confirmed on Thursday that it has opened a probe into the Equifax debacle, which may have compromised the personal information of as many as 143 million Americans.

Legitimate businesses do not ask consumers to verify account information via cold calls or emails.

The FTC is not the only Washington authority looking into the breach.

If consumers gave out personal information to scammers, change passwords, account numbers and security questions. "The Equifax breach is an example of where some simple measures like a Web application firewall and patch management could have prevented a breach of unprecedented scale from occurring".

Equifax also faces growing pressure from Congress. If the firms' suits become class-action cases, they would be one of the largest class-action suits, by number of affected customers, in history.

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"These identity documents can be used in real-world identity theft", Nunnikhoven told TheWrap.

According to Reuters: "The FTC typically does not comment on ongoing investigations".

In response to consumer challenges, Equifax announced the following updates: adjusting how a PIN is generated for consumers initiating a security freeze solution, ramping up call center support and a more prominently featured link from the Equifax.com website. Hackers made off with a hoard of critical data on almost half of the USA population, including social security numbers, addresses and birth dates.

Brian Krebs, a security researcher and author of the KrebsOnSecurity blog, this week revealed that he was recently contacted by researchers at Milwaukee-based information security firm Hold Security who discovered a portal used by Equifax employees in Argentina that was practically "wide open" for anyone to access.

But security professionals say many companies take weeks or even months to apply software patches, as applications need to be tested to ensure the updates don't break existing code. Equifax is offering to affected parties free credit file monitoring and identity theft protection.

"And Canadians, in specific, don't know if they've been targeted or not or they've been impacted or not?"



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