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I think the key part of the outrage against Equifax, and part of why it is more outrageous than most breaches, is not only was customer data revealed, but also

by cwkoss 9y ago

I think the key part of the outrage against Equifax, and part of why it is more outrageous than most breaches, is not only was customer data revealed, but also data about people who want nothing to do with Equifax. There is no action victims could have taken to avoid this breach. In most serious breaches, there is a certain amount of "well, you have to be careful who you give your information to..." even though it's not the victims fault. This factor is not present in the Equifax situation. Equifax is allowed to hold and market a product based on data of individuals who never gave consent, but has no responsibility to protect that data or repercussions when they fail. Arguably this breach has put the final nail in the coffin for using SSN's as secure identifiers. Granted, it was a horrible and mostly-already-broken system to begin with. But I think that this flawed system was still worth in excess of $14B - and Equifax's negligence effectively destroyed that value. I agree bankrupting Equifax would be heavy-handed, but it would be nice to at least see some punitive action that would discourage such negligence in the future and provide an economic disincentive to possessing vast quantities of private data.

PakG1 9y ago
I'm not an American, so I don't know. How much of Equifax's business and value was driven by credit checks and anything else having to do with SSNs? Because if the whole SSN system had a $14 billion value, which was then destroyed by Equifax's negligence, and Equifax had the majority of its business doing this stuff, wouldn't that make Equifax bankrupt? So either Equifax makes a lot of money doing other stuff, or the $14 billion in value wasn't destroyed by Equifax's negligence. I imagine it's the latter, that SSN is still being used for everything because oil tankers can't change their momentum so quickly. If you meant that SSNs can safely be predicted to be not used for identification a decade or two from now, who's to say this was the catalyst? Any system eventually gets revamped, even government systems, especially if they were already broken in the first place. There are many examples worldwide of ID systems and laws changing all the time. In fact, I just read that majority of states are supposed to require Americans to use a passport for flying now. The Real ID Act? Just a bunch of states were too slow to get it done, so they've been given an extension, but even in the US, there's work being done to revamp identification in some areas. I'm not saying that it's good or bad, I'm saying that it seems to happen eventually. Why wouldn't SSN also change up even if Equifax never happened?

by cwkoss 9y ago

PakG1 9y ago

I'm not an American, so I don't know. How much of Equifax's business and value was driven by credit checks and anything else having to do with SSNs? Because if the whole SSN system had a $14 billion value, which was then destroyed by Equifax's negligence, and Equifax had the majority of its business doing this stuff, wouldn't that make Equifax bankrupt? So either Equifax makes a lot of money doing other stuff, or the $14 billion in value wasn't destroyed by Equifax's negligence. I imagine it's the latter, that SSN is still being used for everything because oil tankers can't change their momentum so quickly. If you meant that SSNs can safely be predicted to be not used for identification a decade or two from now, who's to say this was the catalyst? Any system eventually gets revamped, even government systems, especially if they were already broken in the first place. There are many examples worldwide of ID systems and laws changing all the time. In fact, I just read that majority of states are supposed to require Americans to use a passport for flying now. The Real ID Act? Just a bunch of states were too slow to get it done, so they've been given an extension, but even in the US, there's work being done to revamp identification in some areas. I'm not saying that it's good or bad, I'm saying that it seems to happen eventually. Why wouldn't SSN also change up even if Equifax never happened?