The agencies gather the information to create the reports from a slew of different sources, including banks, credit card companies, retailers and public records.įederal agencies, state officials and members of Congress are currently probing Equifax over its data security practices, customer service response and the possibility of insider trading from executives. The agencies gather information on individuals to create credit reports, which lenders use to determine the risk of a potential borrower. The hackers exploited a website application vulnerability to gain access to the files, according to the company.Įquifax is one of the three national credit bureaus, along with TransUnion and Experian. The unauthorized access occurred from May through July 2017. "And the easier it is for them to get by the protocols that banks and others use to make sure they are dealing with the right individual." "The more information scammers have about you, the easier it is for them to impersonate you," said Lauren Saunders, associate director at the National Consumer Law Center. In its response to lawmakers, Equifax said the pieces of information compiled is "not exhaustive," but represents common personal information that hackers usually search for.Ĭriminals can use personal information like this to open bank accounts and lines of credit, like a credit card or mortgage, without the victim's knowledge. "As your company continues to issue incomplete, confusing and contradictory statements and hide information from Congress and the public, it is clear that five months after the breach was publicly announced, Equifax has yet to answer this simple question in full: what was the precise extent of the breach?" Warren wrote in the letter. on the incomplete information provided to Congress following a story in The Wall Street Journal. Related: The hacks that left us exposed in 2017ĭemocratic Senator Elizabeth Warren on Friday sent a letter to CEO Paulino do Rego Barros Jr. The new documents now raise questions of how much information hackers may have accessed in Equifax's cyberattack.
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