EQUIFAX has made the headlines once again, and this time it’s a bit of a shady damage control. The company has been getting known by the way they tackled the Cybersecurity Incident. Despite the warnings they have received previously, the company ignored basic security measures. Not only that, but EQUIFAX performed Stock trading before the reveal of the attack ever happened.
Quite recently, a committee set up by EQUIFAX themselves determined that they did not commit insider trading prior to public disclosure of its massive data breach. Supposedly, the traders didn’t know about the massive cybersecurity breach when the transactions were made to begin with.
The committee’s review included dozens of interviews and the scouring of more than 55,000 documents including emails, text messages, phone logs and other records. There are still other things that damage their credibility, like the Music Major they hired as cybersecurity lead.
SEC Chairman, Jay Clayton has refused to comment when asked by lawmakers if executives at EQUIFAX engaged in insider trading when they sold their shares. He has not confirmed or denied that the SEC is investigating.
It’s extremely suspicious though, the timeline of the events suggests that EQUIFAX was hacked on July 29. And the stock trade happened at the very next day, August 1, selling over $1.8 Million in stock.
The events simply don’t add up, which makes me question the authenticity of this claim. Because this could be done in an attempt to save face in the eyes of the public. However, the company has already been denied of their contract with the IRS.
Considering the fact that the company has made various shady moves in the past. While showing their incompetency at handling customer service and even basic security protocols. I honestly think EQUIFAX forged the accounts that were investigated by the committee.