Equifax Data Breach
Last week. Equifax, one of the nation’s three largest credit bureaus, disclosed that it was subject to a massive data breach – one of the worst in the nation’s history. By the company’s own admission, the breach affects as many as 143 million Americans or roughly half of the U.S. population. This constitutes a much larger share of Americans with a credit history.
According to the company’s press release, “(t)he information accessed primarily includes names, Social Security numbers, birth dates, addresses and, in some instances, driver's license numbers.”
Not only are consumers at risk, but their banks are put at significant financial risk from harm caused by fraudulent loans taken out by cybercriminals.