On the October 23, 2017 episode of Illinois Public Media's Legal Issues in the News, Professor Jay Kesan spoke about data breaches and more specifically, the consequences of the Equifax breach.
"Data breaches have become a fact of life. On September 7, 2017, the credit reporting agency, Equifax, disclosed that it had been the victim of a massive security breach. The current estimate is that about 145 million Americans were affected, with their most sensitive credit-related information stolen by unidentified thieves with unknown motives. The Chief Information Officer, the Chief Security Officer, and the CEO of Equifax all resigned within a month.
The response to the breach has not gone smoothly. Equifax had actually discovered the breach at the end of July, so over a month had elapsed by the time the public knew. Making matters worse, a few days after the company started investigating the breach, three Equifax executives sold Equifax stock worth about $1.8 million."
Listen to the full episode.