Hacker News Reader

Comment by rectang | Hacker News Reader

> It's not the _data_ that's toxic, it's the misuse of it.

That's like saying strychnine is harmless unless you swallow it.

The credit reporting system is built atop the tortured bodies of the victims of identity theft. Every time an individual's personal data is transmitted, that individual is put at risk. The CRAs profit from the profligate dissemination of sensitive data, but the individuals who were compelled to participate and then came to harm are systematically prevented from obtaining recompense.

View on HN

> That's like saying strychnine is harmless unless you swallow it.

Well, yeah... of course.

> The CRAs profit from the profligate dissemination of sensitive data,

Everyone profits. The CRAs who are the aggregators, the companies that share the information, and the consumers who get access to cheap and easy credit.

> Everyone profits.

Victims of identity theft exist. Even if you are content to sacrifice them for the greater good, they are real people.

Nice strawman you're knocking over there. I don't think any level of identity theft is acceptable. I think it should be easier for people who are victims of such crimes to have better tools for resolving it. I think we need a better system for establishing identity, and much tougher penalties for people that commit these crimes.

All I'm saying is that the system we have now provides a great many benefits to people, and that we should look at how to fix it, rather than eliminate it. The CRAs are just 3 companies, out of the thousands that have had data stolen over the years, and will continue to do so forever, because it is impossible to have perfect security.

People have cars. Sometimes they get stolen. Should we eliminate cars, so that we can eliminate car theft?

The Equifax data breach is itself just one among many data breaches, and small potatoes compared to some others. What distinguishes Equifax and the other CRAs is the crucial role they play in a system where data breaches everywhere cause harm to individuals.

Counting on Equifax to solve this problem is absurd. Equifax doesn't care about individual consumers because those consumers are not their customers. Combating identity theft is a cost center; CRAs cannot differentiate themselves in the marketplace through better tools to prevent an externality.

Consumers have to fight for their own interests because the CRAs will only be dragged along kicking and screaming.

Amen.

Identity theft is a transnational industry. How will thoughts and prayers deter it?

Reply on news.ycombinator.com