Former Equifax CEO Apologizes for Massive Data Breach

Rick Smith Equifax

The former chief executive at Equifax tells lawmakers that the sale of company stock by senior executives in early August was unrelated to the data breach at the company.

Mandiant also told Equifax on Sunday that another 2.5 million USA consumers were potentially affected by the breach, bringing the total number in the U.S.to 145.5 million.

Smith said consumers will have more control over their Equifax account with a new, free service the company will offer by January 31st. Lawmakers from both parties expressed outrage over the size the breach as well as the company's response, and grilled Smith on the timeline of the incident, including when top executives learned about it.

While millions of additional USA consumers may have been affected by the breach, the review found no evidence that hackers accessed databases outside the US, which nixes previous estimates that as many as 100,000 Canadian citizens had been impacted.

Smith said he was disappointed in the rollout of call centers and a website created to help the people affected by the breach. "To the best of my knowledge they did not know", Smith said. A more comprehensive service, a credit freeze, blocks access to credit files unless a consumer provides a personal identification number to the agency.

"It was this unpatched vulnerability that allowed hackers to access personal identifying information", Smith said, according to the broadcaster.

While many high-profile companies have suffered damaging data breaches, the Equifax hack stands out because of the company's sprawling influence on American commerce.

Sadio Mane to start against CSKA Moscow, says Liverpool's Klopp
Spartak also drew, 1-1, with Maribor. "That shouldn't be taken as me saying, "You are not performing, you're out of the goal ". As the interpreter began to translate his response, Klopp said: 'Actually it's not important.

"You can't change your Social Security number and I can't change my mother's maiden name", Rep. Security experts have said that the ripple effects will be felt for years to come and that the ultimate costs are hard to discern.

Rep. Bob Latta, R-Ohio, the chairman of the subcommittee examining the breach, said there are already laws on the books that require companies to secure sensitive consumer data.

Smith said Equifax didn't meet its responsibility to protect sensitive consumer information, which led to the theft of personal data for nearly half of all Americans.

Equifax has also faced questions about why two of its executives sold large amounts of stock before the breach became public.

- Separately, the administration of President Donald Trump is considering replacing the use of Social Security numbers as personal identifiers in the wake of the Equifax hack, White House cyber-security coordinator Rob Joyce said at a conference on October 3, Bloomberg reported.

Mr. Smith, who resigned last week, has also indicated that they have been informed of the piracy on July 31, but may not have been aware of the extent of the attack. Then Smith, the former chief executive, said that he, too, would step down. But despite numerous internal discussions, Equifax did not publicly announce the breach until September 7.

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