'You can't fix stupid,' lawmaker slams former Equifax CEO for data breach

05 October, 2017, 00:52 | Author: Sherri Guerrero
  • IRS hands fraud prevention contract to Equifax despite massive hack

"All the folks in the executive suite had no clue, but they were the luckiest investors on August 1 to sell the stock at the best price to net $655,000 - this was pure luck and nothing else?" a baffled Scott asked former Equifax CEO and Chairman Richard Smith.

Rep. Greg Walden, the Republican chairman of the House subcommittee, pledged Tuesday to hold Equifax and Smith accountable.

Following the cyber breach at Equifax that compromised the personal information of millions, cyber security firm, Mandiant conducted an independent review to find the actual number of people affected by the issue.

Smith said that consumers who were initially given a vague response by Equifax's website about the potential hack of their data should have received clarity now.

"We're all going to have to work together to make sure that consumers are protected across the board", Lewis said, "this is just a new age, a new era where so much information is available across the board". "I am here today to apologize to the American people myself".

"Equifax was entrusted with Americans' private data and we let them down", Smith said.

House Passes Ban On Abortion After 20 Weeks Of Pregnancy
Senate Majority Whip John Cornyn, a Texas Republican, told reporters, "That's not a near-term priority". When asked Monday if the chamber would take up the legislation, the majority whip, Sen.


'Sweating profusely:' Kim Jong Nam's last moments
Prosecutors at Malaysia's High Court were seeking to establish the basic facts regarding Kim Jong Nam's death on February 13 . The two were charged along with four North Korean men under Section 302 of the Penal Code, which carries the death penalty.


Google relaxes rules for media outlets with subscription
Google recommends publishers use this new markup when they are deploying flexible sampling techniques on their web sites. Gingras says in the blog post: "Our goal is to make subscriptions work seamlessly everywhere, for everyone".


The review adds about 2.5 million Americans to the list of those affected by the massive cyber attack, bringing the total number of people in the USA potentially impacted to 145.5 million. The company is investigating why.

Some lawmakers have called for new consumer protections such as stricter monitoring of the credit bureaus and a federal rule standardizing requirements to notify victims of data breaches.

Based on Equifax's postmortem investigations, the hacker that exploited this exact weakness likely first used it to pry into Equifax on May 13th, and then continued until July 30th, and Equifax's security tools were none the wiser.

Warren said this business mix creates a conflict of interest by making Equifax responsible for protecting consumer data while allowing it to profit from consumers' attempts to mitigate the breach.

However, Smith had an interesting explainer for how this easy fix slipped by 225 people's notice - one person didn't do their job.

Equifax has recommended that consumers enter some identifying details into a website it set up in the aftermath of the hack to determine whether they were affected. Credit freezes-which have been widely recommended in the wake of the Equifax breach as a way to prevent identity theft-typically cost between $3 and $10, and fees are also charged anytime a customer wants to lift or reinstate a freeze. Barros will also receive a one-time grant of $1.5 million in Equifax stock and will be eligible for at least $372,000 in additional compensation for performance. He said this to assure Congress members that core credit report files were not compromised or altered.

Recommended:



Popular

Las Vegas Shooting: What We Know About Marilou Danley
During the Sunday night rampage, a hotel security guard who approached the room was shot through the door and wounded in the leg. Officials say Las Vegas gunman Stephen Paddock had been stockpiling guns since 1982 and bought 33 firearms in the past year .

Range Rover Sport announced, P400e hybrid confirmed for Australia
Visually, the SUV got an even more sober front fascia through a sportier bumper, slightly redesigned grille, and new headlights. The range-topper betters the previous SVR's claimed 0-100kph time by 0.2 seconds, hitting the ton mark in 4.5 seconds.

Myanmar proposes to repatriate Rohingyas
On Monday, they took foreign diplomats and United Nations representatives on a controlled tour in Rakhine. Rohingya migrants in Bangladesh say the fences prevent them from making trips to their homes in Myanmar.

Tillerson Plays Good Cop on North Korea in Beijing Trip
Trump also signed an executive order penalizing any company or person doing business with North Korea. Tillerson referred to the situation with North Korea as "overheated" - an understatement, to be sure.

Zuckerberg seeks forgiveness for division caused by his work
In the first six months of 2017, Facebook pulled in sales of more than $17 billion and reported a profit of nearly $7 billion. After complaints by the leaders of the Senate Intelligence Committee, the company made a decision to give them up after all .

Hockey analyst Dave Strader dies
The play-by-play announcer for the team had been battling cholangiocarcinoma, a rare and aggressive type of cancer. The broadcast of Strader's return to the booth was honored by two Lone Star Emmy nominations announced this week.

Herath's 400th wicket seals dramatic victory for Sri Lanka
When you are getting old, it gets increasingly hard , it's a different feeling (on his 400 Test wickets). "I have no idea". Asad Shafiq shaped to cut a Herath delivery bowled shorter, and a little quicker, but managed only to send it to slip.

Rams vs. Cowboys Odds: Point Spread, Total & Prediction
Though giving up 42 points to Denver in Week 1 wasn't pretty, the Dallas defense has taking meaningful steps since a year ago . Primary among them was a nine-yard pass from Cowboys quarterback Dak Prescott to Ezekiel Elliott late in the fourth quarter.

Maintaining relations with Pakistan 'serious challenge': Afghan chief executive in New Delhi
On the Quadrilateral Coordination Group (QCG), he said, the United States was already part of it. It was declared as a foreign terrorist organisation by the USA in 2014.

Wenger delighted to mark 21st Arsenal anniversary with win
But Wenger , who was celebrating his 21st year at the club, admitted afterwards that his side could have been more clinical. So let's not jump to quick conclusions. "They were outstanding yesterday but it's a long road to go".