What You Need to Know About the Equifax Data Breach

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"The Equifax breach has potentially exposed sensitive personal information of almost everyone with a credit report, and my office intends to get to the bottom of how and why this massive hack occurred", Schneiderman said. The company offers credit ratings reports for free to consumers in India, and requires users to submit their Aadhaar number to authenticate their identity for these reports.

The first step all experts, including Dang, recommend is freezing your credit. Often, victims of identity theft can freeze their credit at no charge.

Equifax said the breach affected approximately 143 million people.

The senator isn't just speaking out online.

Putting an extended alert on your credit report.

"We are committed to keeping consumers updated on the steps we are taking to provide them with the support they need and address any issues they are facing in response to this incident", read a statement from Equifax that listed five updates. Millions of Americans have bad credit because of mistakes from credit agencies, and it can ruin lives, stopping people from getting a job or owning a home or vehicle.

A class-action lawsuit was filed against Equifax Inc.

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There you can also access frequently asked questions about Equifax.

Hacking accounted for 41% of disclosed breaches, with Goddijn warning: "There are a lot of moving parts to an effective patch management program, but no matter how strong that process might be, it can be undermined when known vulnerabilities are missed simply because the organization was not aware to look for them". When signing up for free credit monitoring, language in the terms of agreement made it appear that users forfeited rights to participate in any potential class action lawsuits.

A few days ago, a major hack happened at the credit reporting agency Equifax, which is one of the three major clearinghouses for Americans' credit histories. If you have a credit freeze, then apply for a loan, it could be blocked.

Lenders use Equifax information to determine risks in financing people's mortgages and credit cards.

Which means they have access to an extraordinary amount of personal and financial data. Within four days of the hack, however, a number of high-up Equifax executives, including Equifax Chief Financial Officer John Gamble; President for US information solutions Joseph Loughran; and President of workforce solutions Rodolfo Ploder sold shares at high prices.

"Equifax carries cybersecurity, crime, general-liability and other lines of insurance, and we have begun discussions with our carriers regarding the incident", a spokesperson said by email Saturday, without commenting further.

The stock has fallen more than 25 percent since Thursday and the company is meeting with investors this week in NY in hopes to contain the fallout. Whether there are laws against how the company as a whole - and those three executives - is unclear.

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