Equifax was hacked five months earlier than date it disclosed

Equifax was hacked five months earlier than date it disclosed

Andrew Cummings
September 19, 2017

Meanwhile, additional reports say the Justice Department is launching a criminal probe of stocks sales by Equifax executives that took place after the company discovered it had been hacked.

Credit reporting firm Equifax reportedly knew about a major hack of its computer systems in March, almost five months before the date it disclosed to the public, Bloomberg reported Monday.

In that regard, late last week (September 15), Equifax released a statement, highlighting that the company "continues to work closely with the FBI in its investigation", stating that the "unauthorized access" likely happened between mid-May and July of 2017 and that the company wasn't aware of the breach until late July. Bloomberg reported that Equifax notified "a small number of outsiders and banking customers" about the March incident, but had not announced it publicly. The Equifax spokesperson said the company complied fully with all consumer notification requirements related to the March incident.

Bloomberg first reported on the news. The Bloomberg report contained a similar account.

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The probe is reportedly looking into CFO John Gamble, president of US information solutions Joseph Loughran, and president of workforce solutions, Rodolfo Ploder who are said to have sold nearly $1.8 million of Equifax stock at the beginning of August. This second, earlier incident may also complicate the company's statements that its executives did not know about the hackers when they sold their shares in July.

Equifax hired Mandiant to help with the probe on August 2, and said the investigators eventually learned that the hackers had accessed the data in mid-May.

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