One hundred thousand Canadians likely affected by Equifax cyber breach

Todd Singleton
September 20, 2017

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Several law firms have already announced lawsuits against Equifax, and are all seeking to become class-action cases. The incident was reported to customers, affected individuals and regulators.

MA and other states: Maura Healey, the attorney general of MA, filed the first state lawsuit against Equifax on Tuesday.

The clamor over consumers having to pay to freeze their credit after the Equifax data breach has prompted legislation in Washington that would make credit freezes, and temporary lifts, free for everyone all of the time.

"We apologize to Canadian consumers who have been impacted by this incident", said Equifax Canada President Lisa Nelson in a press release.

The Canadian website for Equifax now touts a phone number that anxious consumers can call. Many got no response, just a notice that they could return later to register for identity protection.

While Americans have been able to log onto the company's website and input information that will help determine if they've fallen victim to the hackers, Canadians and Brits did not have that option.

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The attorneys general have also had communications with Equifax expressing concerns about terms of service relative to the free credit monitoring services and the prominence of service enrollment information on Equifax's Web page. And ultimately, consumers will probably have to look out for themselves.

- Stay vigilant, possibly for a long time.

The vulnerability used to access 143 million records was disclosed in March. It means that no one, including you, can access your credit file until you unfreeze it, using a PIN or passphrase. That stops thieves from opening new credit cards or loans in your name, but it also prevents you from opening new accounts.

If you're thinking of placing a freeze, the FTC warns, it's important to know a few details.

State and federal authorities, as well as politicians. At least two congressional hearings are slated for the coming weeks. The sales came before the breach was announced to the public. Credit bureaus like Equifax are lightly regulated compared to other parts of the financial system.

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. Nevertheless, the development has prompted scrutiny on Capitol Hill, with a bipartisan pair of lawmakers pressing the company for information on when top executives were notified of the breach.

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