Moody’s downgraded Equifax from “stable” to “negative” due to cybersecurity
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Re: Moody’s downgraded Equifax from “stable” to “negative” due to cybersecurity
#2> Moody’s downgraded Equifax from a “stable” to a “negative” outlook
> Lawsuits and investigations have cost $690 million in the first quarter of 2019 alone
> And the lawsuits will keep coming: In January, an Atlanta judge denied Equifax’s attempts to dismiss class-actions filed against the company.
Looks like there are real consequences to losing data on half of all Americans
Re: Moody’s downgraded Equifax from “stable” to “negative” due to cybersecurity
#3$1.4 billion in expected losses from the hack. That's quite the loss.
Re: Moody’s downgraded Equifax from “stable” to “negative” due to cybersecurity
#4How these guys are still in business and still collecting financial data on US citizens frankly baffles me.
Re: Moody’s downgraded Equifax from “stable” to “negative” due to cybersecurity
#5It sounds like most of these costs are just from having to finally do the things they skimped on in the first place. If so, it's not really a loss compared to if they had taken the right steps at the beginning. So it may not really disincentivize them from cutting corners again in the future.
It'd be like if the only punishment for getting caught cheating on a test was "well now you have to take the test without cheating". You're probably going to give it a try every time.
I'm seeing a pattern with these "Congressional hearings" where politicians bring in CEOs, let off a few zingers to really stick it to 'em, score some points with their constituents, and then... do absolutely nothing of substance.
Re: Moody’s downgraded Equifax from “stable” to “negative” due to cybersecurity
#6I recall someone who was a security director at Panera Bread (a US based fast casual restaurant). Was confused and upset when a security researcher contacted them and asked to exchange a PGP key ... I suspect he straight up didn't understand what the request for a key meant or possibly even the issue as it was a very obvious issue and they did nothing about it until it hit the press.
His previous job... at Equifax.
Oh I found the story:
https://medium.com/@djhoulihan/no-panera-bread-doesnt-take-s...
Re: Moody’s downgraded Equifax from “stable” to “negative” due to cybersecurity
#7Another situation of too big to fail? I sure hope not.
Why are they still in business? Any worthy regulation of any type would have shut them down already no?
Re: Moody’s downgraded Equifax from “stable” to “negative” due to cybersecurity
#8Watch out Equifax, here come those collection calls.
If owing thousands as a US peasant earns you harassment and dozens of calls a week, I'd love to see the Experian leadership get thousands a second if we're staying proportional.
Corporations are people and all.
Re: Moody’s downgraded Equifax from “stable” to “negative” due to cybersecurity
#9I recall someone who was a security director at Panera Bread (a US based fast casual restaurant). Was confused and upset when a security researcher contacted them and asked to exchange a PGP key ... I suspect he straight up didn't understand what the request for a key meant or possibly even the issue as it was a very obvious issue and they did nothing about it until it hit the press. His previous job... at Equifax. O…
That blog post is amazing.
Re: Moody’s downgraded Equifax from “stable” to “negative” due to cybersecurity
#10Where is my check?