3 ms·

Out of curiosity (not trying to be snarky here, I really want to know), what should be offered by Desjardins? I mean, no amount of money can prevent identity th

by kalenx 7y ago

Out of curiosity (not trying to be snarky here, I really want to know), what should be offered by Desjardins? I mean, no amount of money can prevent identity theft and I do not see hundreds of ways to reduce the risks -- especially ways that do not involve Equifax or Transunion... Realistically, apart from the obvious "this shouldn't have happened in the first place", what more could they be doing?

Nextgrid 7y ago
Actual money? Paid for by the executives in the form of fines, bankrupting the company if necessary.
- kalenx 7y ago
  Except in this case it is not a company but a credit union. Bankruptcy just means loosing everything for its _members_. Also, sure "here's one million $". Two weeks after this money is gone because someone stole your identity and empty your account. This is the kind of thing that money simply cannot solve.
  - Nextgrid 7y ago
    > Two weeks after this money is gone because someone stole your identity and empty your account Do people actually lose large amounts of money due to ID theft? I've always considered ID theft to be the lenders being defrauded, and while it is a huge hassle to get sorted, the real person isn't legally liable for the debt fraudulently obtained in his name. Also, if you think money is a bad idea, what else do you propose? I'd rather take money with the chance of losing it rather than no money and "credit monitoring" which doesn't actually prevent ID theft, only alerts you after it's already too late. If anything, the money idea actually makes sense as insurance for future losses due to potential ID theft.
  - sjy 7y ago
    > Bankruptcy just means loosing everything for its _members_. Surely it's typical for credit unions to have deposit insurance? If not, there should be regulations in place to ensure people understand that they are basically just shareholders.
sl1ck731 7y ago
New SSN and a personal Equifax "slave" to update it anywhere and everywhere its used in my life would be a good start. They can offer a couple years of their BS identity protection, but your identity is ruined forever. Your SSN doesn't rotate or expire. There should be no time limit on any remedy they provide.
- kalenx 7y ago
  Can they actually provide new SSN? I mean, these are government issued, and I'm not inclined to think that the government will suddenly allow 3M people (basically 10% of the country) to suddenly change SSN. I fail to see what the bank can do about it.
  - sl1ck731 7y ago
    Exactly. If they can't properly remedy the situation regarding data they choose to keep then they never should have been allowed to be in business at all.
    - biscuitbrowser 7y ago
      +1
m-p-3 7y ago
I just find it ironic that Equifax is the entity responsible of monitoring my identify when they're irresponsible (and apparently unaccountable) with the data in the first place. There isn't many options out there, so they basically have the monopoly on identity protection.

by kalenx 7y ago

Nextgrid 7y ago

Actual money? Paid for by the executives in the form of fines, bankrupting the company if necessary.

kalenx 7y ago
Except in this case it is not a company but a credit union. Bankruptcy just means loosing everything for its _members_. Also, sure "here's one million $". Two weeks after this money is gone because someone stole your identity and empty your account. This is the kind of thing that money simply cannot solve.
- Nextgrid 7y ago
  > Two weeks after this money is gone because someone stole your identity and empty your account Do people actually lose large amounts of money due to ID theft? I've always considered ID theft to be the lenders being defrauded, and while it is a huge hassle to get sorted, the real person isn't legally liable for the debt fraudulently obtained in his name. Also, if you think money is a bad idea, what else do you propose? I'd rather take money with the chance of losing it rather than no money and "credit monitoring" which doesn't actually prevent ID theft, only alerts you after it's already too late. If anything, the money idea actually makes sense as insurance for future losses due to potential ID theft.
- sjy 7y ago
  > Bankruptcy just means loosing everything for its _members_. Surely it's typical for credit unions to have deposit insurance? If not, there should be regulations in place to ensure people understand that they are basically just shareholders.

sl1ck731 7y ago

New SSN and a personal Equifax "slave" to update it anywhere and everywhere its used in my life would be a good start. They can offer a couple years of their BS identity protection, but your identity is ruined forever. Your SSN doesn't rotate or expire. There should be no time limit on any remedy they provide.

kalenx 7y ago
Can they actually provide new SSN? I mean, these are government issued, and I'm not inclined to think that the government will suddenly allow 3M people (basically 10% of the country) to suddenly change SSN. I fail to see what the bank can do about it.
- sl1ck731 7y ago
  Exactly. If they can't properly remedy the situation regarding data they choose to keep then they never should have been allowed to be in business at all.
  - biscuitbrowser 7y ago
    +1

m-p-3 7y ago

I just find it ironic that Equifax is the entity responsible of monitoring my identify when they're irresponsible (and apparently unaccountable) with the data in the first place. There isn't many options out there, so they basically have the monopoly on identity protection.