Huge Credit Agency Data Breach

by Daniel Brouse and Sidd Mukherjee for Membrane Domain Security

Equifax is one of the largest credit reporting agencies in the world. Ironically, Equifax provides “identity protection tools with daily monitoring and alerts today!”

From May to July, 2017, Equifax allowed a cybersecurity breach to steal 143 million people’s identity. The stolen information includes social security numbers, birthdays, addresses and driver’s license numbers.

On September 7, Equifax released a statement via Twitter: “We recently discovered a cybersecurity incident involving consumer information. Once discovered, we acted immediately to stop the intrusion. We apologize to our consumers and business customers for the concern and frustration this causes. Learn more: .”

The data breach compromised about half the population of the United States.

Cyber security specialist Sidd Mukherjee said, “The main issue not addressed is the collection of the data in the first place. There would be no target if there were no centralized database. If the data were maintained in a distributed mechanism, with strict privacy guarantees and guaranteed update (such as blockchain/bittorent/tor allows) we would not be in this situation.

‘But that’s so hard and we need to make money this quarter’

OK, that is actually quite a cruel summary, so let me expand. Back in the day, centralized was the only way to go. The Internet made a lot of things possible and mathematics did as much. Companies like Equifax began in response to a need. They
glommed on to a need twenty years before the Internet and made big databases because they watched ATT and SABRE and railroads, and such. The Internet came along and they lumbered over. And now, they find they are in a strange and terrible land beset with pitfall and with snare.

Equifax makes money through collection and controlled distribution of data. Both those avenues and control are threatened in this brave new world, as Mr. Assange pointed out some time ago.

Don’t get me wrong. I actually think assaults on privacy have done the evolution thing, selected for those schemes which resist assault. And as such, the centralized databases will get selected out of the game. It will take a while, though.”

In other news, until you had many to many communication with latency lower than human attention span, which seems to be about 20 seconds, you can’t really do hive intelligence like the kids are doing with the cell phones. Watch the kids. Demographic is destiny, as someone said.”

This entry was posted in children, cybersecurity, Education, Internet, Law, Security and tagged , , , , . Bookmark the permalink. Both comments and trackbacks are currently closed.
  • RSS The Membrane Domain

    • Sea Level Rise and Property Values
      “Disaster on the Horizon: The Price Effect of Sea Level Rise” Asaf Bernstein, Matthew Gustafson, and Ryan Lewis. Sea level rise coming home, the market is paying attention (Halleluia! who woulda thunk it. The real estate market, especially on the coasts is a wretched hive of villainy)) The first sentence of the abstract is “Homes […]
    • Climate Change And Credit
      by Daniel Brouse Part of a series of articles on Climate Change And Flood Insurance Homeowners living in flood plain have learned the hard way that climate change has effected their ability to get a mortgage. As the sea level rises and extreme weather events intensify, homeowners have found their insurance rates increasing or their […]
    • Uber Paid Ransom and Hid Hack
      Uber Paid Hackers to Delete Stolen Data on 57 Million People * Company paid hackers $100,000 to delete info, keep quiet * Chief Security Officer Joe Sullivan and another exec ousted Bloomberg reports, that Uber was hacked of personal data from 57 millions drivers and riders. Then, instead of reporting the crime, they paid extortion […]
  • Happy Holidays from KingArthur .com

    View on Facebook

    So, you know…
    When we witness the Lord sow snow
    See a glimpse of beauty
    Turn the dark to bright
    Absorb the sound
    Reflect the light
    Peace is found
    Clinging tight
    So, Lord, sow snow!
    Looking back at my track
    Into the virgin snow I go
    So, Lord, sow snow
    Let the crystals flow

    View on Facebook
  • RSS

    • The Squares Of Philadelphia
      Southwest (Rittenhouse) Square, Southeast (Washington) Square, Northwest Square (Logan Circle), Northeast (Franklin) Square and Centre Square (City Hall) all offer something free to do in Philly. Originally planned by William Penn when he laid out the city of Philadelphia, Pennsylvania in 1682, the Squares of Philadelphia are five open-space public parks. Rittenhouse Square in Center […]
    • Earthquake Shakes Parts of Philly
      DOVER, DELAWARE — A Magnitude 4.1 earthquake was recorded 10km ENE of Dover, Delaware. The tremors could be felt from Washington D.C. to New York. No major damage or injuries were reported.
  • RSS NASA Image Of The Day

    • New Research Launches to Space Station Aboard SpaceX Resupply Mission
      The two-stage Falcon 9 launch vehicle lifts off from Space Launch Complex 40 at Cape Canaveral Air Force Station carrying the Dragon resupply spacecraft to the International Space Station. Dragon will bring supplies, equipment and new science experiments for technology research to the orbiting laboratory.
  • RSS Natural Disasters

  • Categories

  • Archives

Created by: Daniel Brouse and Sidd
All text, sights and sounds © BROUSE
"You must not steal nor lie nor defraud."