By now (September 8, 2017), most people have heard that there was a data breach at Equifax that has made over 143 million Americans vulnerable (about half of the entire country). Read more about it here.
Equifax hasn’t done itself any favors since the breach. First, it waited a month to let anyone know that their security was compromised. Second, 3 of its executives decided to cash out stock in the company a few days after discovering the breach. And third, in order to sign up for the “free” protection services, you have to agree to their Terms of Service, which basically say that you agree to arbitration and lose the right to participate in any class action lawsuit. None of those revelations sound good for the company.
But what makes this breach most annoying to the average American is that there was no way we could have avoided being involved. Most of us don’t do business with Equifax. We don’t open accounts with them. They open accounts ON us. We are their product, and we don’t have a choice in the matter.
Yet, we’re the ones affected. We’re the ones who will be cheated out of our money and thrown into the poorhouse if this runs the course it most likely will run. Equifax will protect Equifax long before it protects any of us. It’s entire model is not built on protecting consumers, but in reporting on consumers to big companies that give them business.
This is a lot like Facebook, even though you may not realize it. Facebook’s product is us, not its web site. Without us, Facebook has no business. Equifax is exactly the same way. The big difference is: Most of us choose to be on Facebook to take advantage of its use of us. So very few of us EVER chose to do business with Equifax, aside from the few people who wanted to monitor their credit before this all happened.
So, let this be another example to you that there are those companies out there who see YOU as a their product and aren’t willing to give you a single cent in order to exploit you. Feel good about that because it’s only going to get worse. Nuff said.
They found me, even though I live next door to the Unabomber
It was recently announced that hackers broke into three of the largest data brokers out there and stole millions of social security numbers, plus all sorts of other identification characteristics on people they track. Basically, what this means is that companies that track your information without your permission, or even without your knowledge, have had that information stolen from them, so all of your information is now in the hands of some very bad people who will use it to steal from you, and there’s absolutely nothing you can do about it. So, have a nice day and please buy more products from random companies.
In case you were unaware of it, this sort of thing is happening more and more often. Even if you choose to remain completely off line and never even do anything that can cause anyone to try to steal from you, there are companies out there making it so that you’re already online and everything of yours online is pretty much open to someone breaking into it, EVEN IF IT’S NOT YOU THEY BREAK INTO. That’s the real scary thing because the way our capitalistic system works means that companies we’ve never done business with can now use your information, collect your information, trade with each other based on your information and pretty much put you into the poor farm by using your information.
A couple of months back, someone used my bank credit card to buy train tickets in France. I have no idea how they got a hold of my information, but I can tell you that when I dealt with my bank, I was very much put on the defensive, almost as if something I had done caused this sort of thing to happen. There was never any statement along the lines of “you know, maybe it was our fault.” Shortly after this, it was leaked that this bank suffered a huge data loss that resulted in accounts being compromised. Not once was a single comment made about that, although when it looked like maybe the mistake was on my part, the conversation was sure a lot different.
And that’s kind of the future that we have to look forward to. Credit monitoring companies maintain databases of massive volumes of information on each and every one of us. But if they lose some of that information, they MIGHT (usually if the government steps in and shames them) inform you. And they just might offer a free credit report to see how screwed you really are. If you were screwed because of their action, expect years of having to explain yourself as no one will ever believe you didn’t actually try to buy 10,000 units of widgets from St. Petersburg in the middle of the night while using your credit card to buy a bail bond for some criminal in Florida.
The real issue here is that so much information is available about people and no one seems to care that we’ve become products rather than the owners of this information. Just think about Facebook and LInkedIn. Both “services” are actually data brokers who believe they actually own your information and that your contribution is that you’re allowed to organize it for them so it’s easier to access. If you quit Facebook, your information stays there pretty much forever, no matter how much they say it won’t be. And if you never joined Facebook, your information somehow made it there any way, and they’re just basically waiting for you to acknowledge you’re who you are so they can start tracking you better and send you notices of things you should buy.
We’ve all become products who think we’re actually in control of ourselves, and that’s the real tragic thing. We haven’t been the owners of our own identities for a very long time now, and even now people don’t recognize that. Or when they do, they just sort of shrug and figure it’s too much of a hassle to bother with anyway. But when their identities are stolen, it’s usually too late, so we all play a reverse lottery game here in which we hope that nothing bad ever happens to us while we cast discerning eyes at thoese who do get their identities stolen. We’re good until it happens to us.
And then, like I said, it’s generally too late. But that’s okay. We have much more important things to pay attention to. Who has time for this sort of thing?
By now (September 8, 2017), most people have heard that there was a data breach at Equifax that has made over 143 million Americans vulnerable (about half of the entire country). Read more about it here.