Equifax Breach Under Investigation by N.Y. Department of Financial Services

By Gerald B.Silverman, Bloomberg BNA

The huge data breach at Equifax Inc. is being reviewed by the New York Department of Financial Services for possible violations of state law or regulations, a source familiar with the case, who requested anonymity because they weren’t authorized to speak officially about the investigation, told Bloomberg BNA.

The NYDFS’s new financial services cybersecurity rules have started taking effect this year. The reach of the NYDFS over Equifax’s and whether it violated New York requirements is unclear. The company is based in Atlanta and details of how and where the breach occurred haven’t been made public by Equifax.

A spokesman for the NYDFS declined to comment on possible enforcement actions by the state agency.

New York Attorney General Eric T. Schneiderman (D) has announced that his office is also investigating the breach for possible violations of New York law.