Equifax Data Breach
What Equifax does:
Equifax is a credit bureau.
Equifax tracks the credit history
of borrowers in order to generate
credit reports and credit scores.
It sells this information to banks
and other financial institutions
in order to help them determine the credit
risk of their customers. The other leading
U.S. credit bureaus are Fair Isaac Corp. (FICO),
Experian, and TransUnion.
Social implications:
Effects of the Hack:
The hack showed society that personal information is not 100% secure or safe.
Over 143 million Equifax users were affected in America but the hack did not effect
me or my family members.But the hack shows me that our information is never really safe.
Recourse/Data Breach Info:
To know if your data was breached there are online tools to lookup if you
have been breached and Equifax has also taken measures to notify consumers
if they were affected by the breach. Equifax is offering $125 or free identity
theft monitoring as recourse for users that were by the data breach.