SEC Investigating Data Leak at First American Financial Corp | Hacker News Reader

SEC Investigating Data Leak at First American Financial Corp

krebsonsecurity.com

89 pointsfeross14 comments

Once enforcement is involved, it isn't a kids game anymore. They will dig and dig until they get to the bottom of this. I hope they make their findings public...

The SEC put a grand total of zero people in jail for the financial crisis. The SEC put a grand total of zero people in jail and fined Wells Fargo 22 hours worth of revenue after they blatantly committed fraud and stole from nearly every customer they had FOR DECADES.

Why on earth do you think they will start being effective at enforcement, now, all of a sudden, in 2019?

They also didn't put any individual home owners in jail for falsifying mortgage documents. They had the upside available and simply filed for bankruptcy.

Yeah those damn poor people falsifying all those documents, that was the real problem all along! Can you believe some poor people even have running water and electricity?!?! The gall of these people is beyond the pale.

Find better websites to read, don't repeat this nonsense.

This might go down as the first time in US history that a company was seriously punished for a data breach - are there any other examples of a very serious enforcement agency like the SEC biting down on something like this?

“Equifax to Pay at Least $650 Million in Largest-Ever Data Breach Settlement”

https://www.google.com/amp/s/www.nytimes.com/2019/07/22/busi...

July 22, 2019

Yes, a whole two months of revenue. That'll totally show them!

I mean, it's more than a slap on the wrist but about 1/10th of what they deserved.

not even, they’ll have bought class action insurance and paid less than half that themselves

There really should be a corporate death penalty for these sort of massive failures.

Dissolve the company, sell of the assets, and bar all the C-level employees from management work for a period of time.

>Dissolve the company, sell of the assets, and bar all the C-level employees from management work for a period of time.

This is A-level satire.

We should shut down hospitals and ban doctors when things go wrong, too. Or do you believe corporate executives are inherently evil?

>they’ll have bought class action insurance and paid less than half that themselves

Are we really at the point where we are angry that companies buy insurance to protect themselves from things going wrong? Maybe we should just bankrupt every company that has a data breach or other mishap. Bring it up with your employer, see what they think.

Can someone shed some light on why it’s reported that 885 million documents where exposed, yet only “32 consumers” had their personal information accessed?

Are they saying that millions of documents were theoretically available, but only a very small subset accessed?

Most of the documents are based on public personal information as opposed to private personal information.

When are companies going to learn that data is very much a burden that cannot ever be guaranteed to be "secure"? I really want governments to legislate heavy penalties for data breaches to help solve this.

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