Friday, March 02, 2018
Some crises never seem to go away. They just get worse. Such is the case of Equifax, which bungled a mammoth hack last year in which 145.5 million customers had their data stolen. It has now confirmed that an additional 2.4 million consumers had their names and partial identifications taken. As outrageous as this is, the knowledge that Equifax was entirely responsible for the successful hack is even worse. The company failed to update a server and left a gaping hole in its security that thieves exploited. It will be a long time before consumers trust the company again and that is as it should be. Equifax was lax about protecting data, the one thing it needed to have. It destroyed its reputation in the incident and it can't seem to recover. One almost wishes the company would go away and let other credit reporting agencies take its place.