Equifax Faces A Class-Action Lawsuit in Atlanta

University data was not part of Equifax data breach; OIS provides useful links

University data was not part of Equifax data breach; OIS provides useful links

You can request a copy of your credit report online at www.annualcreditreport.com.

The breach affected about 143 million in the United States, as well as some people in Canada and the United Kingdom, but Equifax didn't provide a number. According to Equifax, the breach lasted from mid-May through July, and compromised names, Social Security numbers, birth dates, addresses and, in some instances, driver's license numbers.

The data theft from Equifax involved information for as many as 143 million USA consumers.

Understandably, many are skeptical or suspicious of signing up for these offered services through Equifax.

There was a catch: the supposedly free service required credit card information up front and would begin charging the card after the free trial ended unless users proactively canceled, according to terms of use for the product dated September 6.

You'll be directed to a screen that lists the steps of the process.

A freeze takes your credit report out of circulation.

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As TechCrunch's Sarah Buhr noted, "It's clear Equifax's goal isn't to protect the consumer or bring them vital information". Thanks to the "website application vulnerability" which hackers exploited, personal data about British, Canadian and American consumers are in the hands of God knows who.

First, the credit reporting agency's business model involves storing information securely and ensuring it does not get in the wrong hands. "So, if it's done early enough you can figure out who it is that was using your card or where it was used or your identity, and it can be anywhere in the country". I would also encourage anyone who chooses to sign up for the services Equifax is offering to not rely exclusively on it for credit and identity protection.

A credit freeze makes it so that new loans and credit accounts can't be opened in that person's name. Those are all crucial pieces of personal data that criminals could use to commit identity theft. To do so, you'll need a PIN that your credit bureau gave you when you enabled the freeze.

Experts say a breach like this takes time. (ANTM - Free Report) and Sony Corporation (SNE - Free Report) have also been victims of cyber attack, when fraudsters stole large number of consumer data. Several state attorneys general have also said they would investigate, which could result in fines at the state level.

Two New Yorkers filed suit against Equifax Monday, saying they live in "constant fear" of becoming victims of identity theft following news of the company's massive data breach. Others expressed frustration that three senior executives sold about $1.8 million in stock in the days following the discovery of the hack.

No doubt, there will be congressional hearings regarding Equifax's actions.

After news of the breach became public, it was revealed that three senior executives at Equifax, including the company's chief financial officer, sold nearly $2 million worth of the company's shares just days after it learned of the hack.

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