The Breach of Equifax
What is Equifax?
Equifax reports credit scores to millions of customers worldwide. There have been estimates
of over 800 million users. They sell analytics, software, and credit reports. For the most part
Equifax reports credit scores and insurance to other businesses in different industries. These
businesses range from different retailers to all types of banks. They mainly provide data through
NCTUE.
What Were the Social Implications?
Equifax’s shares in stock have gone down about 13.66%. The consumers
of equifax are now faced with insurance fraud, credit damage, and identity theft. Luckily there
are companies for credit watch to look for bad charges. Although the data breach happened about
two years ago society and customers are still being affected today.
How Did This Affect Us?
The breach of this data was humongous. The breach leaked the credit data of about 147 million
people. They were all put at risk of fraud and credit damage. My family was also affected by this
breach. To prevent any bad things to happen to us my dad hired a credit watch company to watch out
for any bad charges. Even though we were affected, the company offered us nothing in return.