Equifax is currently between a rock and a hard place. The company gave out the information that a significant cyber attack may have revealed personal data for 143 million U.S clients. The number forms an unimaginable 44% of the entire U.S populace. As if that is not enough, they also say that new cases may likely come to light. The company spokespersons say that they experienced a cyber assault by criminal phishes who provided illegal access to the U.S's data.
Equifax is a large Atlanta-situated organization that deals with credit reporting and monitoring. It plans and analyzes records for over 820 million U.S customers and over 91 million industries globally.
Reports indicate that mysterious groups of hackers conducted the cyber assault in May to July, 2017. Consumers' data breached include names, dates of birth, personal addresses, social security numbers, and few cases of drivers’ licences. The company reports having known of the breach on the 29th of July. However, they kept the news undercover until September 7 when they openly revealed the mishap.
Top members of the Senate Committee for Finance state they require a well-informed timeline of events. They also need the scope of information hacked, details regarding Equifax's attempt to find out the exact figure of clients affected by this major setback, and key measures that the company has taken to guarantee the constraint of probable customer data damage.
A vast number of lawsuits are in the offing. Depending on the cases’ eventual outcome, the clients might either propose a court ruling or still settle with the company.