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Old 09-14-2017, 04:24 PM
 
2,146 posts, read 1,037,123 times
Reputation: 1646

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I was listening to Trevor Noah the other day and was shocked to hear how many people were affected...143 million??? That's crazy! With that high number, the access to all the information they had (hackers), the delay in informing customers, stealing by insider trading...that company needs to be allowed to fail straight up. Those executives deserve prison. Not federal prison but prison prison.
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Old 09-15-2017, 12:39 AM
 
Location: In your feelings
2,199 posts, read 1,489,992 times
Reputation: 2168
Equifax is a company that literally does only one thing: gathering sensitive financial data on people and sharing that data. If they can't do that job properly, they literally have no reason to exist. It's hard to say about an Atlanta company, but Equifax should pay the corporate version of the death penalty for this breach. They have proven themselves to be untrustworthy and incompetent in securing the exact kind of sensitive financial data that is the reason for the company to exist.
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Old 09-15-2017, 04:37 PM
 
Location: Olympus Mons, Mars
5,000 posts, read 8,037,827 times
Reputation: 4925
I am trying to freeze my report, tried yesterday and today and I get "Error - unable to service your request please try again later"... WTF is going on with this stupid company. They should just cease all operations and should be wound down.
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Old 09-15-2017, 04:40 PM
 
Location: Olympus Mons, Mars
5,000 posts, read 8,037,827 times
Reputation: 4925
Quote:
Originally Posted by magnetar View Post
Equifax is a company that literally does only one thing: gathering sensitive financial data on people and sharing that data. If they can't do that job properly, they literally have no reason to exist. It's hard to say about an Atlanta company, but Equifax should pay the corporate version of the death penalty for this breach. They have proven themselves to be untrustworthy and incompetent in securing the exact kind of sensitive financial data that is the reason for the company to exist.
These were my thoughts exactly. They should have the highest standards of security in place. Instead they "forgot" to apply a critical security patch for months, had multiple areas of security weakness (a single weakness would not have resulted in this). They should be banned from doing this type of business.
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Old 09-15-2017, 06:19 PM
 
Location: Atlanta
975 posts, read 807,988 times
Reputation: 925
A couple of interesting headlines today about this.

Equifax security and information executives to retire


No retirement announcements, though, related to the CFO and other executives who sold Equifax stock shortly after the breach was discovered.

And...

Equifax hired a music major as chief security officer and she has just retired




From the article: "Equifax Chief Security Officer Susan Mauldin has a bachelor’s degree and a master of fine arts degree in music composition from the University of Georgia. Her LinkedIn professional profile lists no education related to technology or security."
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Old 09-16-2017, 09:17 AM
 
2,146 posts, read 1,037,123 times
Reputation: 1646
Quote:
Originally Posted by stillinthesouth View Post
A couple of interesting headlines today about this.

Equifax security and information executives to retire


No retirement announcements, though, related to the CFO and other executives who sold Equifax stock shortly after the breach was discovered.

And...

Equifax hired a music major as chief security officer and she has just retired




From the article: "Equifax Chief Security Officer Susan Mauldin has a bachelor’s degree and a master of fine arts degree in music composition from the University of Georgia. Her LinkedIn professional profile lists no education related to technology or security."

That's interesting. It reminds me of how banks were hiring people without business-related degrees and giving them the power to approve mortgage loans. It's done purposely so that when the sh** hits the ceiling fan, the people who were doing the dirty work have no clue what's going on and therefore will have trouble reporting their superiors and lack the knowledge that what they were actually doing was very wrong.

As for the retirement, of course they can retire. They have already robbed the system and made what they wanted to make. They can go live it up because they won't face time like someone who robs a bank and gets caught will.

Again, I can't express enough how we need to take white collar crime more seriously because street crime gets punished through and through and is all over the media all day every day; with white collar crime, they are recognized 'persons' and do not face the same consequences as working class people, especially black and Hispanic. This has to stop!
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Old 09-17-2017, 12:04 PM
 
1,689 posts, read 861,697 times
Reputation: 979
Quote:
Originally Posted by tikigod311 View Post
I hate to say this for any employees out there, but I hope the company goes under. The level of negligence here is intense, the highest consequences are in order.
I went to an Equifax information session once. It was unbelievable. The guy spent the whole session talking about...clothes. He said he'd check out what his colleagues were wearing and think "Oooo I'd better update my wardrobe". He really gave me the impression that working for Equifax was more of a fashion competition. I sat there thinking, "Don't you guys do any...you know...work?" He told a story about how an executive called a male employee into his office because he was wearing...gasp...an earring! And the executive warned him about how that earring would affect his career.

So when this breach happened, it didn't surprise me. Equifax is more interested in looking sharp than hiring the best people to do what they are supposed to do. I didn't apply for a position.
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Old 09-27-2017, 09:12 PM
 
28,129 posts, read 24,652,789 times
Reputation: 9534
Wow. Big money in keeping track of other folks' credit rating.

Quote:
Former Equifax Chief Executive Richard Smith will walk away from the company with at least $48.9 million in company stock and pension benefits, according to company disclosures.

***

Over the past three years, his compensation totaled almost $41.8 million, mostly from stock awards and bonuses, including almost $15 million last year.

Over time, those stock awards have vested, or converted to his ownership, allowing him to accumulate a huge Equifax stake that he has been cashing out over time.

Last year alone, Smith’s “realized” pay of $55.4 million from stock and option awards from previous years. The total included $39.5 million from cashing in options for Equifax stock.

At the end of 2016, Smith also had about $40.2 million worth of stock-related awards that hadn’t vested or he otherwise hadn’t earned yet by meeting the company’s performance goals. It’s unclear whether he was able to claim ownership of any of that compensation upon retirement.

Including Equifax stock he acquired in earlier years, Smith’s stake in the company stood at 285,126 shares as of March 1, worth about $38 million. He also sold $9.7 million worth of Equifax stock in February.

Former Equifax CEO walks with at least $48.9 million stake and pension
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Old 09-28-2017, 01:06 AM
 
Location: In your feelings
2,199 posts, read 1,489,992 times
Reputation: 2168
That's big business in America today: oversee the worst data breach in history, and walk away with more money than most families will ever see in their lifetimes.
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Old 09-29-2017, 01:56 PM
 
2,146 posts, read 1,037,123 times
Reputation: 1646
If someone's house got burglarized and they walked away with that kind of money after crime already committed (if the person was black), people would be in the streets forming a lynch mob but let it be a white man in a business suit and they shake their head and stay quiet.
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