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04 Octubre 2017, 09:53 | Dolorita Barahona
Equifax Data Breach: 2.5 million more consumers affected, ex-CEO faces Congress
Smith will face the House Energy and Commerce Committee on Tuesday but there will be three more such hearings this week. So far, over 7.5 million people affected by the Equifax breah have signed up for the free monitoring.
Equifax's board said it is investigating other members of its executive team, including its chief financial officer and general counsel, for selling stock after the breach's discovery, but before its public disclosure. Smith resigned last week amid backlash over the company's handling of the breach.
Also Tuesday, the company announced 2.5 million more Americans were affected than previously acknowledged.
"Most creditors need to see your credit report before they issue you new credit", Gilman said.
On Aug. 2, the same day King & Spalding was hired, Kelly approved two additional stock sales by Joseph Loughran, Equifax's president for US information solutions and Rodolfo Ploder, president of workforce solutions, Smith said.
US companies and government agencies have disclosed 1,022 breaches this year, data from the Identity Theft Resource Center show.
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.
"Because of this breach, consumers will spend the rest of their lives worrying about identity theft", Warren said. "You're just required to notify everybody and say, 'So sorry, so sad, '" Rep. Joe Barton told Smith.
An automatic scan for vulnerabilities on March 15th also failed to indicate that Equifax was using a Struts version that had the vulnerability.
But the committee didn't forget the ultimate outcome of the breach: The personal data genie can't go back in the bottle.
Cyber criminals infiltrated the corporation's website application earlier this year and leaked personal information such as names, birth dates, addresses, social security numbers and, for some, drivers licenses and credit card numbers.
In prepared testimony published Monday, Smith said that he "was ultimately responsible for what happened" on his watch and that Equifax let consumers down.
Equifax is trying to help consumers while also fixing its security systems, he said. "There's some fundamental problems with this system that need to be fixed", Wu said, pointing to the long-running problems of errors in credit reports and how hard it is for consumers to get the companies to correct those errors as a prime example.
An external cybersecurity firm's forensic investigation into the Equifax breach has concluded, and the number of individuals affected by the hack attack has gone up. Equifax since sent out a statement retracting that language and saying consumers could sue, which they have started to do.
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