Published: Wed, September 20, 2017
Technology | By Christopher Mann

Equifax hack compromised 100000 Canadians' personal data

Equifax hack compromised 100000 Canadians' personal data

Equifax faces new lawsuits and is trying to make new gestures to customers in the wake of its disclosure last week that it exposed vital data like Social Security numbers of about 143 million Americans. And Equifax faces multiple federal investigations on the breach as well as over reports that executives sold an unusual amount stock before the July hack was disclosed.

Several major Canadian companies including TD (AMTD) and CIBC use Equifax to perform credit checks. However, Equifax denies the incidents are related. "The criminal hacking that was discovered on 29 July did not affect the customer databases hosted by the Equifax business unit that was the subject of the March event".

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The company said criminals got access to files containing personal information of some Canadian consumers - including names, addresses, social insurance numbers and in some cases credit card information - via a consumer website application intended for use by USA consumers.

Equifax said on Friday that data on up to 400,000 Britons was stolen in the hack because it was stored in the United States. "The two events are not related".

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The proposal would require Equifax and similar firms to adhere to the same consumer protection rules the state imposes on banks and insurance companies. The probe will look into the stock sales of its chief financial officer, John Gamble; its president of USA information solutions, Joseph Loughran; and its president of workforce solutions, Rodolfo Ploder.

Equifax has since been hit with at least 30 lawsuits and is being investigated by multiple states, US Congress and the Federal Bureau of Investigation. The U.K.'s Financial Conduct Authority and the Information Commissioner's Office have been called in to investigate, adding to the multiple probes already underway in the U.S.

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If the executives sold the shares with knowledge that a breach had occurred that could damage the company's stock price they would be guilty of insider trading. It's not entirely clear why Equifax was unable to patch the known vulnerability in March, before attackers exploited the dispute portal web application in May.

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