Investigate Equifax security breach
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The recent Equifax security breach must be investigated for the public good and individuals should not incur out of pocket costs for remediation.
So far, the actions taken by Equifax in response to this breach are insufficient:
1. They have created a website where individuals can enter personal information to check whether their data has been compromised. Currently, simply states that the individual might have been affected by the breach and asks them to enroll in credit monitoring at a future date.
2. Typically in security breach cases, a year of free credit monitoring is offered to affected individuals, and frequently requires a credit card number to sign up. After this free period, individuals are charged recurring fees. Given the scope of this breach, this is unacceptable and Equifax should incur all monitoring costs for the lifetime of affected individuals. See https://www.nytimes.com/2017/09/08/your-money/identity-theft/equifaxs-instructions-are-confusing-heres-what-to-do-now.html
3. They should proactively freeze freeze credit inquiries on the credit reports of affected individuals for all agencies. Currently, an individual must do this themselves through each credit reporting agency and pay for the service.
Furthermore, the reasons for the breach and individuals with prior knowledge need to be investigated:
1. The fact that data was available to hackers indicates that they may not have followed security best practices and this should be investigated.
2. Three Equifax employees sold stock after the security breach but prior to its public disclosure. This seems to warrant investigation. http://www.npr.org/sections/thetwo-way/2017/09/08/549434187/3-equifax-executives-sold-stock-days-after-hack-that-wasnt-disclosed-for-a-month
The New York state Attorney General has opened an investigation into this security breach. Given that Equifax is headquartered in Atlanta, Georgia, I would urge that the State of Georgia Attorney General's Office does the same.
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