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 Post subject: Another Credit Bureau Breach...
PostPosted: Sun Sep 10, 2017 8:52 pm 
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An estimated 143 million Americans, or nearly half of the U.S. population, had their personal data stolen in the Equifax cyber heist, according to the company. https://www.usatoday.com/story/money/20 ... topstories

Just fucking wonderful. I didn't even see this til tonight. Not much anyone can do about it. Why I love buying things cash only. I fucking Hate Credit and all three credit companies Experian, Equifax and Transunion.

More on the breach. This was not the first. Experian had one before in 2015. This country is so fucking corrupt. From Poor Handling of personal information to Insider Trading...

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Our entire credit bureau system is broken https://www.theverge.com/2017/9/8/16276 ... ken-system


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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Sun Sep 10, 2017 10:35 pm 
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Steelafan77 wrote:
Quote:
An estimated 143 million Americans, or nearly half of the U.S. population, had their personal data stolen in the Equifax cyber heist, according to the company. https://www.usatoday.com/story/money/20 ... topstories

Just fucking wonderful. I didn't even see this til tonight. Not much anyone can do about it. Why I love buying things cash only. I fucking Hate Credit and all three credit companies Experian, Equifax and Transunion.

What a joke. Fuck them.

More on the breach. This was not the first. Experian had one before in 2015. This country is so fucking corrupt. From Poor Handling of personal information to Insider Trading...

Quote:
Our entire credit bureau system is broken https://www.theverge.com/2017/9/8/16276 ... ken-system

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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Mon Sep 11, 2017 2:10 am 
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Equifax has one thing that they can never let happen and they did.

They deserve to go the way of Pan Am, except Pan Am actually provided excellent customer service.

There is no reason for Equifax to exist.

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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Wed Sep 13, 2017 6:24 pm 
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Call every company with whom you've got a credit card and require them to reissue a new number, fresh card. That's for starters


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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Wed Sep 13, 2017 8:26 pm 
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Just saw a report that said company execs new if this for a few weeks beside informing public.

Making matters worse, these execs starting dumping stock. Could be looking at some insider trading charges coming.


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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Thu Sep 14, 2017 8:50 am 
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Cheaters with the money, power, technology & unlimited resources stay ahead of those that play by the rules and those that abide are on defense, counter punching. It's everywhere and the media is controlled by and supports the element that cheats, promoting lies and deception about who you can trust. It is not a coincidence that there are so many athletes presented by the media as greatest of all time playing now: Brady, Serena Williams, Federer/Nadal, L James.

Equifax should be hung by their balls. They haven't invested in constant cyber security upgrades to stay ahead of the thieves. The liars and media will call it a terrible oversight. It's more than that. Watch them now push for one chip implant technology as ultimate, impenetrable protection. That chip is the equivalent of tattooed numbers on the arms of the few living camp survivors.


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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Fri Sep 15, 2017 2:00 am 
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955876 wrote:
Making matters worse, these execs starting dumping stock. Could be looking at some insider trading charges coming.


If true, yes, then throw them in jail for insider trading.

But I will be very interested to see if this is fake news. Insiders are always liquidating shares, and "financial markets" reporters tend to be, IMO, the youngest and most ignorant "reporters" in the bunch.

You have to be really, really stupid to engage in insider trading. My suspicion is the people reporting this are actually the ones who are really, really stupid.

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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Fri Sep 15, 2017 9:34 am 
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Your federal government at work. Equifax and Goldman Sachs wreck our lives and party in the Hamptons. But we really showed Martha Stewart didn't we?

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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Fri Sep 15, 2017 5:40 pm 
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Kodiak wrote:
955876 wrote:
Making matters worse, these execs starting dumping stock. Could be looking at some insider trading charges coming.


If true, yes, then throw them in jail for insider trading.

But I will be very interested to see if this is fake news. Insiders are always liquidating shares, and "financial markets" reporters tend to be, IMO, the youngest and most ignorant "reporters" in the bunch.

You have to be really, really stupid to engage in insider trading. My suspicion is the people reporting this are actually the ones who are really, really stupid.

Yeah, pretty much this. It seems like journalists are more interested in ginning up a controversy than actually reporting news.

Executives of publicly traded companies are required by law to report all stock trades. You can track these peoples' activity pretty easily. Here are all the trades that have been made: http://www.reuters.com/finance/stocks/insider-trading/EFX

Notice that every single one of these Execs still owns a shitload of Equifax stock, and that all trading stops on August 1st, which is only 3 days after they find out about the breach. The CFO dumped half of his stock in May; well before the breach. I'd be willing to bet that these guys had planned to execute these stock options well in advance - you don't just sell $1 million in stock on a whim, I don't care how rich you are.


Fuck these people for potentially screwing up millions of people's credit, but this is a non-story IMO.

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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Sun Sep 17, 2017 12:44 pm 
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THey may get some law passed on this when some congressmen ( and ladies) get their credit screwed up. This is something that needs to be handled. Stop SS# from being used for anything other than SS. Make companies pay severely for this kind of preventable crap.

Remember that you are not a customer of these credit bureaus. You are a product that is sold.

i recommend every one put a credit freeze in place for all three bureaus and look into locking your SS# to prevent Tax fraud.

https://www.uscis.gov/mye-verify/self-lock

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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Mon Sep 18, 2017 10:33 am 
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jebrick wrote:
THey may get some law passed on this when some congressmen ( and ladies) get their credit screwed up. This is something that needs to be handled. Stop SS# from being used for anything other than SS. Make companies pay severely for this kind of preventable crap.

Remember that you are not a customer of these credit bureaus. You are a product that is sold.

i recommend every one put a credit freeze in place for all three bureaus and look into locking your SS# to prevent Tax fraud.

https://www.uscis.gov/mye-verify/self-lock


question on the self-lock. What will that do if I try to buy a property, car, etc?

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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Mon Sep 18, 2017 11:26 am 
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For the credit bureaus , you have to remember to unlock it for a day. it is a web page. My friend who has had issues with stolen credit says he forgets all the time. Buying a new car. Opps. Go home, find the pin, unlock the credit report for a day.

For the SS#, if your taxes are done by someone else, you can allow them access. Otherwise keep it locked. I NEVER give out SS# if I can help it. It is not a personal ID that people treat it as. It should not be used as such.

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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Mon Sep 18, 2017 11:53 am 
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jebrick wrote:
For the credit bureaus , you have to remember to unlock it for a day. it is a web page. My friend who has had issues with stolen credit says he forgets all the time. Buying a new car. Opps. Go home, find the pin, unlock the credit report for a day.

For the SS#, if your taxes are done by someone else, you can allow them access. Otherwise keep it locked. I NEVER give out SS# if I can help it. It is not a personal ID that people treat it as. It should not be used as such.
Agreed. But when service providers require a SS# to do business? It's not like you can refuse.

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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Mon Sep 18, 2017 12:37 pm 
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COR-TEN wrote:
jebrick wrote:
For the credit bureaus , you have to remember to unlock it for a day. it is a web page. My friend who has had issues with stolen credit says he forgets all the time. Buying a new car. Opps. Go home, find the pin, unlock the credit report for a day.

For the SS#, if your taxes are done by someone else, you can allow them access. Otherwise keep it locked. I NEVER give out SS# if I can help it. It is not a personal ID that people treat it as. It should not be used as such.
Agreed. But when service providers require a SS# to do business? It's not like you can refuse.


Which is why you would write your congressman and tell them to either stop it via a law or set a punishment so high that it is cheaper to either to generate their own ID or take proper security of them. I think a minimum of 100K per number or higher. If Equifax had to play $143,000,000,000,000 fine, they might want to be more careful. They lost, basically, every adult in the US SS# along with some credit card numbers and credit history.

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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Tue Sep 19, 2017 12:15 pm 
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R S wrote:
jebrick wrote:
THey may get some law passed on this when some congressmen ( and ladies) get their credit screwed up. This is something that needs to be handled. Stop SS# from being used for anything other than SS. Make companies pay severely for this kind of preventable crap.

Remember that you are not a customer of these credit bureaus. You are a product that is sold.

i recommend every one put a credit freeze in place for all three bureaus and look into locking your SS# to prevent Tax fraud.

https://www.uscis.gov/mye-verify/self-lock


question on the self-lock. What will that do if I try to buy a property, car, etc?


You call and unlock it before making such purchases.


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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Thu Sep 21, 2017 11:54 am 
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Some interesting info in this articleon the puts that were traded on Equafax before they reported the breach

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The question is of extra consequence in Equifax, where data show a surge in bearish put contracts weeks before the credit-reporting firm disclosed a security breach that sent its stock down 35 percent. CNBC reported Wednesday that a House committee is seeking information on the trades, which Business Insider said it could’ve grossed $10 million.

An Equifax spokeswoman didn’t respond to a telephone call seeking comments on the options trades. The reported probe is separate from a Securities and Exchange Commission investigation of stock sales by Equifax insiders prior to the Sept. 7 disclosure.

One piece of data the panel will be interested in is whether volume in the options was initiated by buyers or sellers. While puts in their simplest form are wagers that a stock will fall, in the through-the-looking-glass world of derivatives markets, an equally important consideration is whether the trader was bullish or bearish when he entered the transaction.

In short, someone who sold the put -- that is, had a bearish view on the contract, as opposed to buying it -- would not have made money in the subsequent Equifax rout. While “selling a put” sounds absurd -- betting on a decline in an option that itself is a bet on a decline in a stock -- it happens all the time. Traders do it when they’re convinced a stock won’t fall and want to pocket the price of the option.

Establishing who makes and loses money on a given options trade is as much art as science. In the case of Equifax, data compiled by Bloomberg show that almost 2,700 puts changed hands on Aug. 21, the most for any day since 2005, including two blocks of 1,250 September $135 puts each. At the same time, some see evidence those contracts were “sold” -- that is, a seller approached market makers and asked the options be “written” and purchased from him.

What evidence? Mainly that the two blocks of options changed hands at 70 cents and 75 cents, or near the “bid,” the market price set by a buyer (the options had a bid/offer spread of 70/95 cents). Normally, when a seller initiates a transaction, he must do it at his counterparty’s terms.

“The size is definitely unusual given the average total daily volume below 50 contracts, but the trade details suggest an opening seller initiated the trade, so it’s not quite the smoking gun that some other reports have suggested,” Henry Schwartz, president of analytics firm Trade Alert wrote in an email. “Based on implied volatility and the bid-offer spread at the time of the trade, it seems very clear the options were sold given the $0.70 and $0.75 execution prices.”

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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Thu Sep 21, 2017 2:39 pm 
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Pabst wrote:
The CFO dumped half of his stock in May; well before the breach.


That will be interesting, because reportedly they had another breach sometime around there that went unreported/undisclosed.

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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Thu Sep 21, 2017 2:42 pm 
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jebrick wrote:
Some interesting info in this articleon the puts that were traded on Equafax before they reported the breach


If I were a betting man, I think you might find a hedge fund behind those trades (likely acting on insider information).

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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Thu Sep 21, 2017 2:50 pm 
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Laying the Wood wrote:
You call and unlock it before making such purchases.


But you have to pay to lock and unlock. Which isn't a big deal if you aren't addicted to those stupid store discounts "get 15% off today if you open a credit account".

Personally, in a digital age it costs them NOTHING to lock and unlock your credit (other than the lost revenue on selling your info without your permission). It should be free to lock and unlock as often as you choose for as long as you choose.

FYI, I was hit with identity theft. All 3 services gave me a free lifetime credit freeze - as law requires them to - and Transunion and Experian gave me free lock and unlock as often as I like. Equifax, however, made up a bullshit technicality to deny me that legally entitled service. They can rot in hell.

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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Thu Sep 21, 2017 3:39 pm 
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Call/write your congressman/woman. There are bills that propose that we should never have to pay to lock and unlock our credit reports. I'll dig around and see if it has a name.

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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Thu Sep 21, 2017 4:59 pm 
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Equifax, sent customers to a phishing site disguised as a dedicated site to helping those affected by the breach.

https://www.yahoo.com/finance/video/equ ... 00346.html


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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Thu Sep 21, 2017 6:14 pm 
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jebrick wrote:
Call/write your congressman/woman. There are bills that propose that we should never have to pay to lock and unlock our credit reports. I'll dig around and see if it has a name.


It's such a common sense solution. Identity thieves aren't going to waste their time trying to unlock someone's credit when there is lower-hanging fruit out there. Plus, the security checks to unlock is another layer of information they might have trouble cracking.

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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Fri Sep 22, 2017 7:08 am 
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jebrick wrote:
Call/write your congressman/woman. There are bills that propose that we should never have to pay to lock and unlock our credit reports. I'll dig around and see if it has a name.


wait a minute. i just locked mine. I didn't see anything about a fee for unlocking it on this site? It's a dot gov and they are charging?

https://www.uscis.gov/mye-verify/self-lock

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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Fri Sep 22, 2017 8:30 am 
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R S wrote:
jebrick wrote:
Call/write your congressman/woman. There are bills that propose that we should never have to pay to lock and unlock our credit reports. I'll dig around and see if it has a name.


wait a minute. i just locked mine. I didn't see anything about a fee for unlocking it on this site? It's a dot gov and they are charging?

https://www.uscis.gov/mye-verify/self-lock


The credit bureaus are charging to lock YOUR credit report because you cost them money by doing so. Right now Equifax is allow you to lock it for free until November 21st.

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 Post subject: Re: Another Credit Bureau Breach...
PostPosted: Fri Sep 22, 2017 11:39 am 
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jebrick wrote:
R S wrote:
jebrick wrote:
Call/write your congressman/woman. There are bills that propose that we should never have to pay to lock and unlock our credit reports. I'll dig around and see if it has a name.


wait a minute. i just locked mine. I didn't see anything about a fee for unlocking it on this site? It's a dot gov and they are charging?

https://www.uscis.gov/mye-verify/self-lock


The credit bureaus are charging to lock YOUR credit report because you cost them money by doing so. Right now Equifax is allow you to lock it for free until November 21st.


Is there a charge to UNLOCK it?


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