Experian/Vietnamese Identity Thief: Allegation of Harm

[thewayne]

An Experian executive said before Congress, presumably under oath, that there were no allegations of harm for the fullz information dumps that a company acquired by them and sold to this Vietnamese thief, who stupidly went to Guam and got arrested

Comments

[silveradept]

Despite this proof, will Experian actually be required to compensate the victims? Signs point to no.

[thewayne]

It probably won't be anything more than the standard 'one free year of credit monitoring!' which is almost worse than nothing as it does almost nothing to prevent actual credit/identity theft.

[silveradept]

Seriously. If an actual fine were levied, it would be better and get companies to think a bit more securely. Let's start at the million-dollar level per record stolen, and then multiply exponentially for each record that could be proven to have been used in theft or fraud.