CDSA

Equifax Breach: 8 Takeaways (Bank Info Security)

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After Equifax on Thursday warned that 143 million consumers’ personal details may have been stolen by hackers, criticism of the consumer credit reporting agency – and data broker – has been swift.

Many security experts are asking how attackers were able to exploit the “website application vulnerability” cited by Equifax to steal so much personal information. Indeed, the breach may have exposed Social Security numbers for nearly half of all Americans.

On Friday, New York Attorney General Eric T. Schneiderman announced he has launched a formal investigation into the Equifax breach and has sent a letter to the company seeking additional information about the incident. Meanwhile, attorneys general in Connecticut, Illinois and Pennsylvania announced they plan to sent a joint letter requesting details from Equifax. Plus, the House Energy and Commerce Committee and Financial Services Committee announced plans to hold hearings to examine the massive data breach, according to The Hill.

Here are eight takeaways from the breach.