DataBreaches.Net

Menu
  • About
  • Breach Notification Laws
  • Privacy Policy
  • Transparency Report
Menu

Do Experian’s board, investors, and public know the full extent of Experian’s security concerns?

Posted on October 8, 2015 by Dissent

Brian Krebs has a piece on security at Experian that I hope the FTC and Congress critters read.

One of the points I had made in my complaint to the FTC is that Experian’s multiple data security breaches were not disclosed in either its annual reports or reports to investors. Brian’s piece makes me wonder how much people at the top really knew/know about the extent of security problems or issues there and how much their rush to acquire new businesses may have been or be at the cost of security and due diligence.

Independent of the above, and after speaking with some reporters yesterday who were asking about my FTC complaint, I reflected, once again, about how little the general public knows about the fact that Experian has had so many breaches (by my standard). And I started pondering the following:

Suppose we – as consumers – could insist that Experian delete our records from their credit reporting database if we had been informed they had a breach involving our data.  “Equifax ,TransUnion, and Innovis can still have my data, but you, Experian, cannot, because you didn’t protect it adequately.”  What would happen then? Businesses that need to run our credit history could still obtain it, but not from Experian, right?

Would it be a good idea – and fair to consumers – to change the law so that consumers could demand our records be deleted from a credit reporting database if the entity had failed to protect our data adequately?  The T-Mobile breach didn’t even make a temporary blip in Experian’s business. Their site reports that they hold data on 890 MILLION individuals and 103 businesses. There has been no breach so costly as to really act as a deterrent or sufficient penalty. But what if they risked not being able to collect or store data? What if we had a system like South Korea where regulators barred entities from signing up new accounts for months as a punishment for data security failures? Not just for breaches, but for repeated breaches where the company had failed to address known risks (such as the Wyndham case)?

There has to be something we can do to protect consumers better.

Think about it while I go grab some more coffee.

 

 

 

Category: Commentaries and Analyses

Post navigation

← Uber checks connections between hacker and Lyft
Maybe every e-commerce site should assume they were hacked last year →

Now more than ever

"Stand with Ukraine:" above raised hands. The illustration is in blue and yellow, the colors of Ukraine's flag.

Search

Browse by Categories

Recent Posts

  • McLaren provides written notice to 743,131 patients after ransomware attack in July 2024
  • A state forensics lab was leaking its files. Getting it locked down involved a number of people.
  • CoinMarketCap Hacked, Scrambles to Remove Malicious Wallet Verification Popup
  • Montana Attorney General launches investigation into Lee Enterprises data breach
  • AT&T gets preliminary approval for $177 million data breach settlement
  • Aflac notifies SEC of breach suspected to be work of Scattered Spider
  • Former JBLM soldier pleads guilty to attempting to share military secrets with China
  • No, the 16 billion credentials leak is not a new data breach — a wake-up call about fake news (Updated)
  • Tonga’s health system hit by cyberattack (1)
  • Russia Expert Falls Prey to Elite Hackers Disguised as US Officials

No, You Can’t Buy a Post or an Interview

This site does not accept sponsored posts or link-back arrangements. Inquiries about either are ignored.

And despite what some trolls may try to claim: DataBreaches has never accepted even one dime to interview or report on anyone. Nor will DataBreaches ever pay anyone for data or to interview them.

Want to Get Our RSS Feed?

Grab it here:

https://databreaches.net/feed/

RSS Recent Posts on PogoWasRight.org

  • The Markup caught 4 more states sharing personal health data with Big Tech
  • Privacy in the Big Sky State: Montana’s Consumer Privacy Law Gets Amended
  • UK Passes Data Use and Access Regulation Bill
  • Officials defend Liberal bill that would force hospitals, banks, hotels to hand over data
  • US Judge Invalidates Biden Rule Protecting Privacy for Abortions
  • DOJ’s Data Security Program: Key Compliance Considerations for Impacted Entities
  • 23andMe fined £2.31 million for failing to protect UK users’ genetic data

Have a News Tip?

Email: Tips[at]DataBreaches.net

Signal: +1 516-776-7756

Contact Me

Email: info[at]databreaches.net

Mastodon: Infosec.Exchange/@PogoWasRight

Signal: +1 516-776-7756

DMCA Concern: dmca[at]databreaches.net
© 2009 – 2025 DataBreaches.net and DataBreaches LLC. All rights reserved.