tinyfav.com
tinyfav.com October 17, 2017


2.5 million more consumers affected, ex-CEO faces Congress

05 October 2017, 12:53 | Gina Pena

2.5 million more consumers affected, ex-CEO faces Congress

After the data breach, the IRS hired Equifax to handle taxpayer information

Equifax Chairman and former CEO Richard Smith testified before the Senate Committee on Banking, Housing, and Urban Affairs on October 4.

Smith said this particular sale opened after the second quarter earnings call and was in line with normal behavior.

Later, Smith conceded that it was a "mistake" to include language for a credit monitoring system that would force customers into arbitration if they wanted to sue the company.

Smith said in prepared remarks to a House panel that the company on March 9 circulated an internal memo warning about a software flaw identified by the government's Computer Emergency Response Team (CERT).

The colossal data breach also led to several top-level resignations at the renowned consumer credit reporting agency, which includes the chief security officer, the chief information officer, and the chief executive officer.

Smith said security personnel noticed suspicious activity on July 29 and disabled the web application on July 30, ending the hacking.

Before the Senate Banking, Housing and Urban Affairs Committee hearing began, a young person put on a black top hat, bushy white mustache and bright red bow tie.

"Can you explain to the American people, not just as consumers who have been exposed and breached here, but as taxpayers, why in the world should you get a no-bid contract right now?" Sen.

Amethi Visit: After Cong Flak, Admin Says 'Yes' To Rahul's Tour
He added the Amethi district administration had later "admitted to its mistake" in this case. Gandhi is scheduled to visit Amethi from October 4 to 6.

US Senate Committee Agrees Russia Meddled In Election, Still Probing Collusion
The comments came as the pair updated reporters on the probe into Russian attempts to influence the 2016 election and possible collusion with the Trump campaign.

Ferrari woes continue as Raikkonen retires from Malaysian GP
The lights went off, obviously, we did our starts, everyone was trying to move at the start, and it was the way it happened. "It has been an awesome atmosphere but I think even this year will be very wonderful ". "The auto felt good".

That didn't stop the committee from thrashing Smith and Equifax's failure to protect user data.

"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. "How does this happen?' Walden said".

Hackers seem to have made their entry between mid-May and end of July. The company said it would update the database with the names of the additional millions of potentially affected consumers by October 8. "I don't think we can pass a law that fixes stupid".

Consumer Financial Protection Bureau officials have said the agency should embed more regulators at the three largest USA credit-rating firms to monitor cybersecurity - a plan endorsed Tuesday by Representative Jan Schakowsky.

In part of the ongoing investigation into the Equifax security breach, private security firm Mandiant has finished its first round of forensic data collection and analysis.

In addition to Congressional inquiries, Equifax faces a number of state and federal probes related to the hack. The company said a review of the impact on British consumers was still being analyzed. "That's all I'll say".

The vulnerability was used by hackers to access the personal data of 145.5 million americans. 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.



Other News

Trending Now

Possible Terrorism In Canada As Officer Stabbed And Pedestrians Struck
Both the Edmonton Police Service and the RCMP are working on the case through the Integrated National Enforcement Team. Austin Elgie, manager of The Pint bar just west of the downtown core, saw the van zoom by with police giving chase.

Bangladesh, Myanmar officials agree to draft repatriation deal for Rohingya Muslims
Rohingya refugees undertake a risky journey to safety to neighboring Bangladesh, either on foot or by boat. A Rohingya refugee child in Cox's Bazar, Bangladesh , on September 29.

Rocker Tom Petty dead at 66
When he arrived at the hospital, it was determined that he had no brain activity and was pulled off life support on Monday. Speaking to Rolling Stone late previous year , Petty revealed the tour would likely be "the last big one".

Trump tells Tillerson he's wasting his time
That's a stance that runs counter to what others in the USA administration - including President Donald Trump - have said. Kim responded by saying he would "surely and definitely tame the mentally deranged USA dotard with fire".

San Juan mayor targeted by Trump has strong connection to Pittsburgh
Che said. "You can't walk into a store and do a million dollar's worth of damage and then be like, 'I get it, I'll leave'". Responding to Trump's tweets about the mayor of San Juan, cast member Michael Che went further than the show usually goes.

Jharkhand BSF Officer Killed In Srinagar Was To Come Home Next Month
Sharma said they receive information about possible fidayeen attacks on security force camps from intelligence agencies. A police officer said two suspected rebels and a paramilitary officer had been killed in the fighting so far.

United States physicists win Nobel Prize for discovery of gravitational waves
In 1916, the renowned physicist said his theory of general relativity meant that gravitational waves could exist. Raymond Davis Jr., who was 88 years old when he was awarded the Nobel Prize in 2002, is the oldest.

Amit Shah launches 15-day long Jana Raksha Yatra in Kerela
The attack took place around 9:30pm when the BJP workers were decorating a part of the National Highway 66 for the march. As many as 120 BJP workers, 84 in Kannur alone, have been killed in the state since 2001.

Iran, Iraq to hold drills after Kurds choose independence
Turkey and Iran, which have their own restive Kurdish populations, opposed the referendum, as did the United States. Global flights were indefinitely suspended from Erbil and Sulaimaniya airports in Iraqi Kurdistan at 6 p.m.

Rams continue strong start, rally past Cowboys 35-30
All they had against the Cardinals was one three-and-out possession totaling 3 yards as the defense struggled as well. In four games, the Rams have already scored 142 points, showing off a 37 point differential in the scoring as well.