It’s not just Equifax. The entire industry is full of itself, corrupt, and hawking
services with close to zero value. It’s hard to find the perfect words but the best
descriptor for current identity protection is probably simple: “insurance fraud”.
The problem of managing our identity online is real – we live increasingly digital
lives with the inevitable result that our information is more and more exposed.
At the same time hackers and the tools they use for finding data online are always
improving. The Equifax data breach is literally the last demonstration the public
should need to see clearly that big company solutions today claiming to protect our
identities are a joke. They need to be destroyed and recreated from the ground up.
Equifax is telling consumes it will protect them, now, really? Really.
Our credit bureaus, Equifax, Experian, TransUnion, allowed a natural monopoly by
our government, are scoring us, selling our data, and then re-selling us on paying
them more money to protect our data files. In the Equifax data breach, this
hypocrisy has now reached beyond absurd levels:
“Equifax to Offer Free Identity Theft Protection and Credit File Monitoring to All U.S. Consumers”
What? After Equifax gets hacked and loses people’s social security, drivers licenses,
and other personal info they will remedy consumers how? With it’s very own
trusted Equifax protection?” This is the crisis response from a $15 billion dollar
business making Forbes list of 2017 Worlds Most Innovative Companies.
If this is identity protection, Congress under the FCRA, should have Equifax and rest
of the industry refund all US customers money right now.
Consumers are buying bad product with good marketing
But it’s not just the industry. It’s us consumers buying bad product. We are what
we are – busy, attention-challenged, brand-trusting people trying – and rightly so –
to think ahead and to protect ourselves from harms. We talk to each