Personal Finance

Equifax Hacked Jul 29- 143M Americans, Unknown # of Canadians

  • Last Updated:
  • Nov 14th, 2017 8:39 am
Newbie
Jan 13, 2009
59 posts
5 upvotes
dealguy2 wrote:
Sep 13th, 2017 5:16 pm
How else did the data leak?
there are so many different ways this could have happened. somebody could have physically taken a hard drive from a server for example. but even if it was a remote hack, it definitely does not mean that the data was stored in plain text and it doesn't mean it was on any website.
Deal Addict
Aug 24, 2016
2199 posts
1113 upvotes
elfion wrote:
Sep 13th, 2017 4:50 pm
ahh, I see. thanks for the explanation, this is helpful.
Also credit alerts is all you get with CIBC.
No credit report or score.
There is one way to get the credit score from CIBC, and that's through the app.
It's pretty redundant though, as it's the exact score provided free from Borrowell.
Deal Addict
Apr 11, 2006
4781 posts
914 upvotes
Mississauga
hagbard wrote:
Sep 13th, 2017 1:33 pm
Is this only with the CIBC credit card? How about other accounts? Couldn't find anything when online banking for this.
As others have confirmed, looks to be only CIBC credit card. I don't have their banking product so wouldn't have been able to confirm.
georvu wrote:
Sep 13th, 2017 2:35 pm
Appreciate the info... maybe I should get a CIBC cc.
If you don't need/want the hard hit credit check, why not just wait for Mogo, which is free and does not require any hard hit on your credit report.

As far as I know, the CIBC Credit Smart alert feature is provided by Equifax Canada. And it sounds like the functionality that Mogo is planning to add is also that which is provided by Equifax Canada, so I assume (hope), it'll be the same frequency of alerts when these same inquiries are made on your credit report.
Newbie
Apr 10, 2009
28 posts
5 upvotes
Vancouver Island
Equifax hack fallout limited for Canadians

http://www.msn.com/en-ca/money/topstori ... smsnnews11

TORONTO - Equifax Canada's customer service agents are telling callers that only Canadians who have had dealings in the United States are likely to be affected by the massive hack announced last week.

The credit monitoring company's call centre staff say that Canadians who have Equifax accounts in the U.S. could be at risk of having their data compromised, such as those who have lived, worked or applied for credit south of the border.

The Canadian Press made multiple calls as consumers to Equifax Canada's customer service line and were told that consumers whose credit files were not checked outside of Canada are unlikely to be part of any breach.

Equifax Canada did not immediately respond to requests for comment.

Equifax said last Thursday a security breach occurred over the summer that compromised the private information of up to 143 million Americans, along with an undisclosed number of Canadians. But the company has been tight-lipped about further details, including how many Canadians may have been exposed.

Equifax Canada's website says that "only a limited number of Canadians may have been affected" and "the breach is contained."
"We are working night and day to assess what happened," the credit monitoring company says on its Canadian website.

Canadian and American credit files must be kept separate due to differences in the various laws within the U.S. and Canada, according to the Equifax Canada website.
However, American companies can pull Canadians' files in Canada with consumers' permission, according to credit risk expert Mike Morley.

"Let's say you're a Canadian applying for a mortgage in the U.S. for your cottage... They will make a decision based on your Canadian credit information," Morley said.
That would generate a U.S. credit file for the consumer, he said.

Morley added that Canadians who live and work south of the border would have their credit history in Canada in various situations, including when applying for a credit card, or even by a potential employer or landlord.
Deal Guru
User avatar
Mar 6, 2003
10605 posts
1685 upvotes
Ottawa
Lots of us on RFD would be in the boat of having a credit history in the US because of our US bank credit cards. I think I also applied for a US Target VISA at one point too.
Honey, I can't go to bed yet. Somebody is wrong on the Internet!
Deal Addict
Jan 21, 2014
2145 posts
493 upvotes
Would RBC (Georgia) Signature Black VISA create a credit file with Equifax? It boasted that we could create a U.S credit history with the card. I recently just open a bank account with RBC U.S. and received the credit card. The only good thing was I did it in August, just after the hack
Deal Addict
User avatar
Apr 1, 2007
2775 posts
149 upvotes
elfion wrote:
Sep 13th, 2017 5:40 pm
there are so many different ways this could have happened. somebody could have physically taken a hard drive from a server for example. but even if it was a remote hack, it definitely does not mean that the data was stored in plain text and it doesn't mean it was on any website.
I'd bet money it was not encrypted. They fought against regulations that would have forced them to increase their internal security, and force them to encrypt all data. They wouldn't fight that if they were already doing it.

The consumer is their product (data mining profits), and they will spend as little as is necessary to protect your data.

Another reason our system is so ****. There should be so many regulations for these companies, but they get to sell all your data and create their own rules. You are the product.
Sr. Member
Apr 18, 2009
747 posts
205 upvotes
Toronto/Plano/Atlant…
I just entered my number and it said I might be one of the affected persons.

I entered my information and I m now waiting for the email with the link to set up the monitoring.

I worked in the US for a couple years, so still have a US issued credit card and a US bank account ( very useful for eBay USA only purchases and other online purchases)
Newbie
Jan 13, 2009
59 posts
5 upvotes
Well I had absolutely no dealing with US, never applied for any financial products there. And yet my identity was compromised under the old name, same name that Equifax had on file. I don't believe their statement. It's too much of a coincidence.
Deal Addict
User avatar
Mar 28, 2005
3027 posts
173 upvotes
Ontario / Quebec
elfion wrote:
Sep 13th, 2017 5:40 pm
.......... it definitely does not mean that the data was stored in plain text ...................
How could it not have been in plain text?
If it was encrypted the hackers wouldn't have been able to read and use the information.

Reminds me of Yahoo - they stored user passwords in plain text and were then surprised when they were hacked and the user names and passwords of their email clients were used for illegal purposes.

BTW - "hacker" and "hacked"is not really the right terminology for those crooks but since the OP used it, I'll stick to it.
Deal Addict
Feb 4, 2015
2581 posts
457 upvotes
Canada, Eh!!
Costco USA has following [$9/month for executive members else $14/month; $20 non members]... this is thru Experian.

https://completeid.com/identity-protect ... omparison/

Option for USA RFD folks who don't want to use Equifax free option or to use after that free option expires.

Unless I missed it could not find anything similar for Costco Canada.
Deal Addict
Feb 4, 2015
2581 posts
457 upvotes
Canada, Eh!!
coolintheshade wrote:
Sep 13th, 2017 4:31 pm
With RBC you can get your credit file and score once a month, but there are no alerts like there is with CIBC.
Totally different service.
So perhaps get CIBC no fee cc and RBC no fee savings acct if really concerned?

CIBC has alerts whereas RBC gives full report monthly where I would presume have more info on any alerts?
Deal Addict
Aug 24, 2016
2199 posts
1113 upvotes
georvu wrote:
Sep 14th, 2017 3:16 pm
So perhaps get CIBC no fee cc and RBC no fee savings acct if really concerned?

CIBC has alerts whereas RBC gives full report monthly where I would presume have more info on any alerts?
It's probably worth noting that CIBC monitors Equifax report only, and alerts of activity (new accounts, inquiries etc...) and RBC gives the TransUnion report and a credit score that is different than the one directly from TransUnion.
Deal Addict
Jan 21, 2014
2145 posts
493 upvotes
coolintheshade wrote:
Sep 14th, 2017 5:19 pm
It's probably worth noting that CIBC monitors Equifax report only, and alerts of activity (new accounts, inquiries etc...) and RBC gives the TransUnion report and a credit score that is different than the one directly from TransUnion.
I think the alerts I got regardless which CC I applied where some only went to TransUnion (Scotia Amex and Chase Marriott). Maybe not when it was a hard check but perhaps when the account open and I got the alert?
Deal Addict
User avatar
Aug 4, 2003
2359 posts
823 upvotes
mkl38s wrote:
Sep 14th, 2017 9:05 pm
I think the alerts I got regardless which CC I applied where some only went to TransUnion (Scotia Amex and Chase Marriott). Maybe not when it was a hard check but perhaps when the account open and I got the alert?
Yes, when a new account is reported, it is reported to both bureaus. CIBC will catch a new account regardless when the initial credit query was made but it is severely delayed itself and new account reporting itself would take a while to get to bureaus too. CIBC is also very slow at reporting Equifax credit checks.

Being able to get instant notification of a credit check at either bureau would be the best way to mitigate your losses.
Loose lips sink ships.

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