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Equifax shares slump after massive data breach

Saturday, September 09, 2017 - 01:14

Equifax's shares tumbled after the provider of consumer credit scores revealed that hackers may have stolen personal data of 143 million Americans. Fred Katayama reports.

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Shares of Equifax tumbled after the provider of consumer credit scores said hackers may have stolen personal data of 143 million Americans. Between May and July, cyber criminals got access to Equifax' rich customer information, such as names, Social Security numbers, and birthdays, through a vulnerability in a website application. Bigger hacks like those Yahoo disclosed last year didn't put as much sensitive information at risk. Equifax discovered the breach on July 29th. Cyber security expert Ryan Kalember says the hack is one of the largest ever recorded. (SOUNDBITE) RYAN KALEMBER, SENIOR VICE PRESIDENT, CYBERSECURITY STRATEGY, PROOFPOINT (ENGLISH) SAYING: "This is a huge amount of records to be compromised at once. And because it affects nearly everyone who is employed in the United States, you'll see the impact of this for months and months to come. It will manifest itself in fraudulent e-mails that we might all receive, trying to even steal further information, as well as potential for fraud." The FBI is investigating the breach. The New York and Illinois state attorneys general opened separate probes. Two proposed class-action lawsuits were filed. Both allege that Equifax had been negligent in protecting consumer data.

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Equifax shares slump after massive data breach

Saturday, September 09, 2017 - 01:14