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Darn it, Equifax!

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Airmantharp
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Re: Darn it, Equifax!

Thu Mar 15, 2018 10:09 am

"cloud" --> someone else's server

:D
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just brew it!
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Re: Darn it, Equifax!

Thu Mar 15, 2018 10:37 am

Glorious wrote:
derfunkenstein wrote:
Are you saying that Fight Club predicted cloud storage?

More like "cloud storage" is the new "mainframe".

Indeed. We've come full-circle back to essentially the same computing paradigm (mainframe/terminal) we had up until the 1970s. The terminals are just orders of magnitude smaller, more powerful, and ubiquitous.

Airmantharp wrote:
"cloud" --> someone else's server

:D

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Anovoca
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Re: Darn it, Equifax!

Thu Mar 15, 2018 10:38 am

Glorious wrote:

Captain Ned can probably tell you a lot more about this, but there are lots of regulations in banking to make sure that you have redundancy etc.. and it's been common custom for DECADES for mainframe folks in general to have a primary datacenter (not in your skyscraper, as that is a needless engineering/leasing complication) and a backup "hot site" etc...



Not to mention TSM Hardcopy at a 3rd location.
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Captain Ned
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Re: Darn it, Equifax!

Thu Mar 15, 2018 11:05 am

Glorious wrote:
Captain Ned can probably tell you a lot more about this, but there are lots of regulations in banking to make sure that you have redundancy etc.. and it's been common custom for DECADES for mainframe folks in general to have a primary datacenter (not in your skyscraper, as that is a needless engineering/leasing complication) and a backup "hot site" etc...

Surprisingly enough, there aren't really any black/white regulations requiring data redundancy for financial institutions. The market takes care of it, because an institution that can't open because it can't find its data is soon to be an ex-institution. Our regulations cover things like privacy and data security/protection of consumer information.
What we have today is way too much pluribus and not enough unum.
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Glorious
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Re: Darn it, Equifax!

Thu Mar 15, 2018 11:07 am

Captain Ned wrote:
Surprisingly enough, there aren't really any black/white regulations requiring data redundancy for financial institutions. The market takes care of it, because an institution that can't open because it can't find its data is soon to be an ex-institution. Our regulations cover things like privacy and data security/protection of consumer information.


I guess that makes sense. The threat of completely losing a multi-billion dollar business overnight because a janitor smoked in the wrong closet is enough to make regulation unnecessary. Like, if they can't even do that right, as you say, they aren't in business long enough to be regulated in the first place. :lol:
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derFunkenstein
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Re: Darn it, Equifax!

Thu Mar 15, 2018 11:43 am

Airmantharp wrote:
"cloud" --> someone else's server

:D

well I *know* that but in whatever year that was (1998-99?) nobody had fast enough networks to put everything there.
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Captain Ned
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Re: Darn it, Equifax!

Thu Mar 15, 2018 11:53 am

Glorious wrote:
Captain Ned wrote:
Surprisingly enough, there aren't really any black/white regulations requiring data redundancy for financial institutions. The market takes care of it, because an institution that can't open because it can't find its data is soon to be an ex-institution. Our regulations cover things like privacy and data security/protection of consumer information.

I guess that makes sense. The threat of completely losing a multi-billion dollar business overnight because a janitor smoked in the wrong closet is enough to make regulation unnecessary. Like, if they can't even do that right, as you say, they aren't in business long enough to be regulated in the first place. :lol:

Oh, we certainly discuss backup & redundancy with institutions, but our only real stick is the reputational risk if data is lost.

Here's another ugly "secret". Most of "regulation" is jaw-boning from the bully pulpit about the bad market outcomes that result from poor management decisions. That's usually enough to effect needed change in management rather than hauling out the law books and writing up violations.
What we have today is way too much pluribus and not enough unum.
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adamlongwalker
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Re: Darn it, Equifax!

Thu Mar 15, 2018 7:49 pm

NovusBogus wrote:
Krogoth wrote:
Internet has never been a secured network or environment. It has always been that way by design. It is just a matter of time and motivation for certain parties to find an exploit against lucrative targets.

Better get used to these "leaks" until people start to realize that transmitting sensitive information on the internet isn't so hot and carries significant risks.

Would it be fair to say that Krogoth is not impressed by Internet security? :)

In any case, I agree--funneling everything into a single giant all-seeing data gulag may be convenient for large corporations and the glorious dotcom master race but it's not going to end well.

As for the breach, I checked the site and got the "deferred" message saying to try again next week. I'm assuming that means that I'm not in the known compromised database(s) but I am in one or more that they're not sure about.


Well He "is" right. I got scared witless on how our financial institution deals with things on the side. To the point of hard copy everything that is financial based. That means no use computer for any major financial transaction. Everything is cold hard cash. I've had no issues for 40 years.
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