Equifax hit with $700 million fine for data breach, but is it enough? (The Daily Charge, 7/22/2019)
The Daily Charge
Today on the Daily Charge, Equifax and hot water.
Marvel Phase 4. The anniversary of Apollo 11.
And more Huawei drama.
Good morning and welcome to CNet Daily Charge.
It's Monday, July 22.
I'm Roger Cheng.>> I'm Alfred Ng.>> Let's take a look at today's headlines.
Equifax may pay up to $700 million, as a result of a massive 2017 data breach.
They expose the data of more than 147 million Americans after, what does this mean?
Essentially, if you were affected by the breach, you're eligible for up to $20,000.
And you know, reimbursement from Equifax over this Now, that is much easier said than done.
You basically have to prove you are affected by one of these breaches.
And it's not like when your Social Security number is stolen, it's not like that person will contact you like hey, by the way, I stole this from Equifax.
Right, so I mean, that is the big question, right?
They've set aside about $300 million of this settlement to pay out to consumers, but how do you even know if you qualify?
Yeah, so at a press conference earlier today, the director actually of the Consumer Financial Protection Bureau had mentioned that if you were affected by identity theft or anything like that We're dealing with this breach, you're eligible for this like so if your identity was stolen after this breach had happened with the same data that was taken, you're pretty much eligible for it.
You're gonna get some money but you know, the full $20,000 that you really have to prove that it that it affected you that much.
So it's not only identity theft.
So money that you spend on attorneys, that you spend on accountants to deal with this, if you paid for credit monitoring.
That kind of thing, and the hours that you dealt with it too.
You can get up to $25 per hour for up to 20 hours.
From this settlement.
What happens if though you weren't affected right away right like the information wasn't used against you until like a year later two years later.
Yeah so I think they kept it in broad terms because of that they specifically said if you were affected after this breach had happened so if you are affected by identity theft or anything like that after July, 2017, which is when they were hacked and then they announced it in September though but I think they're going by the when the hack happened date.
And then, [INAUDIBLE] also has some rules.
Some changes that Equifax has defaulted to.
What's going on with them?
Yes, so Equifax along with paying up will now also have to improve its security standards, they're gonna have to do a yearly review of their own security standards.
And then also every two years have to have a third party review to make sure that it is doing what they say that they're doing because that's how this breach really happened in the first place.>> Right.>> They said that they were warned about a vulnerability in March.
They told their staff to patch it They did it.
And they only learned about it after they realized they had been hacked.
Right this as far as the this is totally preventable.
Next up Marvel unloaded phase four scheduled including confirming Black Widow tunnels Shang Chi Sequels of Doctor Strange and Thor and a Blade reboot.
That is a huge amount.
That doesn't even mention the Disney Plus shows.
Is there anything any project in particular you're excited about?
No I don't care about any of these.
I don't know like I guess it's cool that there is a lot more diversity and more representation with Marvel movies, I just these like none of these superheroes really click with me.
I know you can't do another Iron Man or Captain America or anything like that.
But to be fair, that was also the set of superheroes that started out this phase.
Marvel had really sold the rights to all of the heavy hitters.
And hey made do with what they had and they built what they did with Infinity War and all that.
So it's very cool.
Maybe they'll do a good job of all these.
Well, interestingly enough though, the heavy hitters they just got from Fox, right?
X-Men, Fantastic Four.
barely got a match.
Yeah, and, and we didn't even get any information on a sequel to Black Panther or guardians of the galaxy.
These are two big franchises that people were interested in.
They really kind of pushed her focused on these new projects that you don't know as much about cuz they're definitely like C or DT.
Probably because all those big names can generate their own press and they don't need Comic Con to do that.
Sure, well, there's a plus there's also a dis event coming up next month so maybe a little tease more information.
Then lastly, Saturday mark the 15th anniversary of the Apollo moon landing.
Our own Jackson Ryan takes a look at the various missions going on now from China to Israel As well as our own goal to get back to the moon by 2015.
It's kind of interesting that like this was the huge day that captured America's imagination for like a decade and then just abruptly ended in the 70s and like we haven't really gone back.>> Yeah, I saw a study actually that looked at, cuz it was like a historical perspective on and how like.
Two years later, like nobody cared about it, like some people couldn't even remember Neil Armstrong's name, like just two years after it happened, which yeah and now we're all crazy about it again maybe because it's the 50th anniversary of it.
Maybe a year later we won't care about it again.
I know that the aviation museum and the folks are kids, adults, older folks, they were just gaga over [UNKNOWN] space.
The moon is cool.
I mean it's kinda likein 1969, somebody like the US just went, left the first comment.
On the moon and like left, like didn't care about the actual content of it.
There you go.
All right, lastly, today's made story.
Huawei story continues, the Huawei House is reportedly meeting with tech executives about the ban on Chinese telecom equipment giant.
Washington Post is report detailing its work to build and maintain North Korea's 3G network.
This is a story that will never end.
I mean, look until there's definitive proof that Huawei is part of this massive espionage network and also at the same time, they're really the company that most countries have to rely on to build a 5G network.
Not the US,
A lot of country.
It's Yeah, we're just going to keep talking about this because like 5Gs, such that's where every country is really going with their network.
And they have to rely on Huawei for it or most of them do.
And at the same time the U.S. is continuously saying, look you cannot trust them on this.
And the UK, K Calls had a great story on Friday about the struggle is still, they're kind of deciding on whether or not Walway should.
Should be in or out of these five e-networks, and that's really become kind of detrimental.
So yeah, definitely, a lot of drama there.
On The Daily Charge, I'm Roger Cheng, I'm Alfred Wang.
Thanks for listening.