Equifax – Your Integrity Is In Question …
By now, you’ve probably heard that Equifax (one of the 3 major credit reporting agencies in the United States) reported last week that they had a data breach and that important, confidential information for approximately 143 million Americans (that’s almost half our population) was compromised.
The compromised information contained details such as:
- Social Security Numbers;
- Driver’s License Numbers; and
- Phone Numbers
Early reports reveal a few shocking things about this data breach.
- The breach was apparently discovered earlier (around July 29, 2017), but a large amount of time passed before it was disclosed (it wasn’t disclosed until September 2017);
- During that time window of non-disclosure, 3 Equifax executives apparently sold roughly $1.8 million of stock holdings;
- Equifax is NOT sending notice to everyone who’s information was compromised, but instead only to roughly 200,000 people who had additional information compromised;
- Equifax is offering free credit monitoring services (as is required by federal law), BUT this service is being offered through their own credit monitoring company, NOT through an independent third-party credit monitoring service
Until #12 states:
Until we rebuild our lives and our society upon a foundation of integrity, we will never achieve our maximum potential and evolve as a species.
Equifax – Integrity is doing the right thing, even when no one’s looking.
The fact that 3 of your board members sold stock (probably for a large profit) BEFORE the disclosure was made was not doing the right thing when no one was looking. Delaying disclosure of such a massive data breach affecting nearly 1/2 of the US population was not doing the right thing when no one was looking.
Not only did Equifax (in my opinion) not do the right thing when no one was looking, there still not doing the right thing now that everyone is looking.
Equifax is asking people potentially affected by their apparent negligence to rely upon THEIR credit monitoring agency in order to get any assistance. Serious Equifax. That’s like asking the fox to guard the henhouse. You’ve already demonstrated you’ve been unable to protect this data and now you’re asking for more trust?
Law #12, the Law of Integrity states:
Nothing can take the place of being kind, genuine, faithful, loyal, honest and sincere. Integrity is the foundation upon which all else is built. With integrity, one has nothing to fear, as one has nothing to hide.
Equifax – The fact that you apparently delayed notifying people potentially affected by this data breach indicates to me that you have something to hide. The fact that you are only notifying roughly 200,000 of the people affected the most and NOT notifying the 1.43 million (that’s 1,430,000) potentially affected people indicates to me that you have something to hide.
Equifax – In my opinion, you are NOT acting with integrity.
If you want to show you have integrity:
- Make those 3 executives resign from your board immediately or fire them if they don’t;
- Make those 3 executives give up their profits from the sale of said stock, or report them to the SEC for potentially trading on inside information if they don’t;
- Take steps to immediately notify ALL 1.43 million people affected by this data breach;
- Hire a third-party credit monitoring agency (not yours) to clean up the mess that was cause.
If you do these things, I will applaud you for assuming personal responsibility for this mess and working to repair the damage as much as possible.
If you don’t do these things, you will have lost all integrity in my eyes and I will choose to not do business with your company in the future. Hopefully other companies will make the same choice. This country has 2 other credit reporting agencies and we can get along just fine without you.
Equifax – You should remember that it is your privilege to service us. It is NOT our privilege to be serviced by you.
Don’t do us any favors Equifax. You’re apparently already done enough to us as it is. Instead, do what you should do to clean up this situation. Do what you need to do to clean up this situation.
Benefit #12 states:
By incorporating Law #12, the Law of Integrity into our lives, we will be creating a society that encourages the positive traits of integrity, kindness, authenticity, faithfulness, loyalty, honesty and sincerity as opposed to the dishonorable traits of deceipt, hate, hypocrisy, unfaithfulness, disloyalty, dishonesty and insincerity.
I ask you, what do you think of the job Equifax is doing here? Do you think they’re acting with integrity, authenticity, honesty and sincerity?
Please feel free to comment below.
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Until next time, remember, Change Begins With You.