Speedier bank mergers; a new take on the Equifax hack

Receiving Wide Coverage …

Silver liningMortgage originations may be slowing, but the market for “humdrum” mortgage servicing rights sure isn’t, with volume up 14% last year from the year before. “The increase in servicing transfers is the latest ripple effect from a slowdown in the housing market, which has forced lenders to slim down, consolidate or close up shop,” the Wall Street Journal reports. “Many of the sellers are independent mortgage lenders that don’t have deposits to fund themselves or other lines of business that can help them withstand a downturn. Stronger players — both banks and nonbanks — have been […] Read more

Firms Use Software That Enabled Equifax Hack








Equifax’s data breach of nearly two years ago hasn’t taught a majority of Fortune 100 companies a lesson, with reports stating that most are using the same vulnerable version of software that enabled hackers to infiltrate Equifax.

According to a report citing data provided by open source automation company Sonatype, in the second half of 2018, two thirds of Fortune 100 companies downloaded versions of Apache Struts with the same vulnerabilities that Equifax had when it was breached. And that comes even with nearly two years’ worth of patched Apache Struts available in the marketplace.

The report noted that Sonatype won’t name names, but […] Read more

Marriott hack could wind up being worse than the Equifax breach

The Marriott hotel hack is the latest in an alarming series of data breaches, exposing the personal data of 500 million customers. Given the size of the breach, the quality of the data revealed and the number of years it went undetected, the repercussions are bound to impact the fraud landscape in 2019 and beyond.

In the aftermath of the Marriott breach, there will likely be an increase in fraud attack rates. Bad actors will leverage the leaked information to take advantage of e-commerce retailers and consumers by exploiting the available data via account takeovers, or ATO. ATO occurs when criminals […] Read more

The Equifax hack could be worse than we thought

The Equifax breach may have exposed more personal information of customers than previously thought.

Additional information, including tax IDs and driver’s license details, may have been accessed in a hack that affected 145.5 million customers, according to confidential documents Equifax provided to the Senate Banking Committee seen by CNN.

The disclosure follows Equifax (EFX)‘s original announcement of the breach in September, which compromised sensitive data like names, date of birth, Social Security numbers and home addresses.

In its original announcement of the hack, the company had revealed that some driver’s license numbers were exposed. The […] Read more

Did the Equifax Hack Expose You to Tax Fraud? — The Motley Fool

If you were among the millions of Americans whose information was stolen in the Equifax data breach, you’ll need to protect yourself come tax time next year. Tax return fraud is a perennial problem, but with so many Social Security numbers stolen in the recent hack, it’s likely that next year will be particularly bad for this type of fraud.

How tax return fraud works

If a fraudster has your name and Social Security number, he or she can file a tax return in your name and adjust the figures to make it look like the IRS owes you a […] Read more

iPhone X orders held up by credit freezes put in place after Equifax hack


Some customers scrambling to preorder the hotly anticipated iPhone X early Friday morning hit an unexpected roadblock: Credit freezes put in place after the Equifax data breach held up authorization of payment plan loans.

After preorders began Friday at 12:01 a.m. Pacific, 3:01 a.m. Eastern, some who had initiated a credit freeze forgot to unfreeze it to authorize plans like Apple’s iPhone Upgrade Program.

Readers reached out to AppleInsider after their purchase process was delayed, and others took to Twitter to express frustration that they had missed out […] Read more

Equifax hack being probed by UK’s financial watchdog

The fallout from the massive Equifax hack, publicly disclosed last month, continues: Today the UK’s financial watchdog said it also wants to get to the bottom of what happened.

In a brief statement on its website today, the UK’s Financial Conduct Authority said: “The FCA announces today that it is investigating the circumstances surrounding a cybersecurity incident that led to the loss of UK customer data held by Equifax Ltd on the servers of its US parent.”

While US consumers were the primary victims of the massive data breach, at the time of the public disclosure Equifax also said some UK […] Read more