After Security Breach, CEO of Equifax to Make Changes to Company

After Security Breach, CEO of Equifax to Make Changes to Company
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Equifax CEO Richard Smith promised to “make changes” following a massive hack of the company’s user data this past July, one that possibly exposed the user data of approximately 143 million Equifax users.

The security breach occurred around July 29, but the company elected to keep news of the breach to themselves for roughly six weeks because the initial belief within the company was that there were minimal intrusions. This of course ended up to not quite be the case, to put it mildly. This was said in an opinion piece in USA today last week by Equifax CEO Richard Smith:

“We are devoting extraordinary resources to make sure this kind of incident doesn’t happen again. We will make changes and continue to strengthen our defenses against cybercrimes. We took the unprecedented step of offering credit file monitoring and identity theft protection to every U.S. consumer. Every consumer, whether affected or not, has the option of signing up for the services.”

As of Tuesday, more than 15 million people have visited the website, and 11.5 million are enrolling in credit file monitoring and identity theft protection. Equifax’s CEO Richard Smith described the breach as the “most humbling moment in our 118-year history” and promised to institute changes to better protect customers.

According to ABC News, the FBI is investigating the breach. An independent cybersecurity firm has also been hired to provide further recommendations to prevent similar cybersecurity incidents from happening in the future. The Senate Finance Committee submitted a letter to Smith on Monday and requested answers to 13 questions.

The letter also included a request for a detailed timeline of the breach, as well as the discovery of the breach. Additionally, the committee requested copies of the company’s plan to notify affected consumers, as well as details as to what steps the company has taken to limit potential consumer harm relating to the hack. Equifax has until Sept. 28 of this year to answer the Senate Finance Committee.


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Luke Moats
Luke Moats
I was born and raised in a suburb North of Dallas, Texas, where I learned the joys of storytelling and writing the truth. At heart, I'm just a big nerd who aspires for a Star Trek-esque utopia where all human differences can be solved by communication, and there is little to no violence. I believe the truth is the finest commodity that one can work for, and I am honored to be able to spread truth through my writing.

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