Data breach in credit register

This is a big overreaction by RTE.

The data from 5 years to 5 years and 3 months wasn't removed from the credit record.

So banks saw credit information for 5 years and 3 months instead of from 5 years.

Most of those were not impacted in any way
1) as their record was clean.
2) As they had a bad record and it persisted into the <5 year period

To be impacted, one would have had to have cured one's bad record in the period between 5 years ago and 5 years and 3 months ago and not had a bad credit record since.

Brendan
 
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Brendan Burgess said:
This is a big overreaction.

The data from 5 years to 5 years and 3 months wasn't removed from the credit record.

So banks saw credit information for 5 years and 3 months instead of from 5 years.

Most of those were not impacted in any way
1) as their record was clean.
2) As they had a bad record and it persisted into the <5 year period

To be impacted, one would have had to have cured one's bad record in the period between 5 years ago and 5 years and 3 months ago and not had a bad credit record since.

Brendan
Click to expand...
My reaction Brendan was to 476,000 enquiries made during that time. Surely that seems excessive. Even though after investigation only 20,000 were adversely affected. Most of whom were in arrears anyway. It does not mention those that were not.
 
"The Central Bank’s investigation so far has determined that, of the approximately 476,000 total enquiries made by lenders or borrowers for information held on the CCR over the period between 1 June and 7 August 2023,

That also struck me as a lot of enquiries in a two month period. It would mean about 3m a year.

Brendan
 
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