Enero 23, 2018

As ex-Equifax CEO testifies, all credit bureaus are on trial

04 Octubre 2017, 09:26 | Azura Castelo

Deciding the right path for shielding your credit report?

Equifax Announces Cybersecurity Firm Has Concluded Forensic Investigation Of Cybersecurity Incident | Equifax

They are reviewing a data breach that affected an estimated 145 million Americans.

- Former Equifax CEO Richard Smith told US lawmakers on October 3 that he was "deeply sorry" for a cyber hack that was thought to have exposed personal information for 143 million customers.

Hackers accessed names, addresses, social security numbers, and some driver's licenses through a flaw in software known as Apache Struts.

It blamed a vulnerability in the Java Struts Web application framework for the breach.

Hackers have unauthorized access to Equifax Inc.'s files.

The Daily Dot has reached out to Equifax and will update this article if we hear back.

"When I came to the company 12 years ago we had virtually no focus on cyber security", Smith testified. "There is a real impact as a result of this breach on consumers".

Equifax and an independent cybersecurity forensic consulting firm, Mandiant, worked "literally around the clock" to figure out what happened, Smith said.

Tuesday's committee hearing begins three days of inquiry into how Equifax managed to compromise the data of millions of Americans. In its financial filings, it said it relies "extensively" on the "voluntary contribution on credit data from most lenders in the U.S".

Since the breach, Equifax has been offering a credit lock to those affected, which would prevent the sales of information to other companies, though the information that was taken was kept in a portal that was not encrypted.

In testimony on Tuesday before a US House subcommittee on consumer protection, Smith explained that Equifax has a protocol whereby news of important software patches is communicated to the appropriate people within a certain time.

The Office of the Privacy Commissioner of Canada launches investigation into the breach.

However, Mr Smith said they were not aware at the time that personal information had been stolen.

In another exchange, Smith said he had "no indication of a breach" prior to the date of the stock sales, only of "suspicious activity". Both are replaced with internal employees on an interim basis effective immediately. A spokeswoman for LifeLock said Wednesday the company monitors information from all three major credit bureaus, as well as identity theft information from third-party data sources, and LifeLock's proprietary ID Analytics network. He stepped down on September 25, in the wake of the data breach.

Equifax also faces several state and federal inquiries and numerous class-action lawsuits.

The breach involved TALX, which is Equifax's human resources and payroll service.

That last part is telling, a possible signal to what could - or could not happen - after this week's hearings.

Mandiant found that about 8 000 Canadian consumers were impacted by the hack, fewer than the initial estimate of 100 000.

Late Monday, Equifax said an independent review had boosted the number of potentially affected USA consumers by 2.5 million to 145.5 million.

Otras noticias

Tendencias Ahora

Trinity Industries, Inc. (NYSE:TRN) Experiences Heavier than Average Trading Volume
TheStreet raised shares of Trinity Industries from a "c" rating to a "b-" rating in a research report on Monday, August 14th. The stock witnessed 22.43% gains, 24.59% gains and 33.7% gains for the 1-month, 3-month and 6-month period, respectively.

Starfish brings Microsoft Groove to Amazon Echo
Although the look of the Amazon Echo and Amazon Echo Plus , the internal specification of the device has undergone a major change. In typical Amazonian fashion, the company also shrank the price: The new Echo will sell for $100 in the United States.

US Defence Secretary Mattis backs Iran deal
Because the United Nations nuclear watchdog has found Iran in compliance, it's hard for the US administration to say otherwise. This would allow Trump to signal his displeasure with the deal while simultaneously upping the pressure on Tehran.

Catalonia to declare independence from Spain within days - region's chief
He said that he would present the results to the Catalan parliament. "If not, I will not go". Former Barca manager Pep Guardiola was among those to have criticised the decision to play.

Kate Winslet takes on a new avatar for Cameron
Kate Winslet will next be seen in The Mountain Between Us , which opens in the United Kingdom and the US this coming weekend. Deadline reports that Cameron offered Winslet the role of Ronal, a new character whose exact nature remains unspecified.

Watch: Residents of Barcelona react to referendum and ensuing violence
There is a Spanish proverb that a difficult choice puts one between the sword and the wall (entre la espada y la pared). Ada Colau, the mayor of Barcelona , demanded an end to the police actions and called for Rajoy's resignation.

Tropical storm forms off Mexico coast; another could hit US
On the Gulf Coast, areas including Florida, Alabama, Mississippi, and southeastern Louisiana could be impacted. It's still too early to determine the exact track of the low and whether it will be a named tropical storm.

Ford CEO Hackett to outline plan to Wall Street
This investment is expected to generate 13 new electrified Ford products, though not all of those 13 will be pure electric models. Earlier this year, Ford chose to move production of its next-generation Focus sedan from North America to China , saving money.

Harry Kane closing in on calendar goal record
Just the shirt of Tottenham's Harry Kane played 174 games in which he scored 110 goals and recorded 18 assists. "I don't want to speak about this progress.

Amit Shah lambasts CPI-M, Kerala CM for murder politics
Meanwhile, BJP leader Vijay Goel has said that Kerala Chief Minister Pinarayi Vijayan is promoting violence in the state. The on-foot rally will travel across the state, traversing 11 districts and end at Thiruvananthapuram on October 17.