Category Archives: Richard Smith

Yahoo, Equifax still don’t know who was behind their massive hacks

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Two of the most impactful data breaches in history remain unsolved mysteries. Yahoo’s 2013 breach that impacted all 3 billion of the company’s users remains an open case, former CEO Marissa Mayer told the Senate Commerce Committee on Wednesday, testifying alongside to the interim and former CEOs of Equifax and a senior Verizon executive. Yahoo didn’t even know of the record-setting 2013 breach until a U.S. indictment in November 2016, more than three years later. An FBI investigation of the 2013 breach is ongoing. This year’s Equifax breach has smaller numbers (145 million people affected) but the data stolen is extremely sensitive and may end up causing more harm than Yahoo. Like Yahoo, the interim and former CEOs of Equifax don’t know who breached their company. There are now multiple ongoing federal investigations into both the breach and the company itself, interim CEO Paulino Barros told the committee. Yahoo’s 2014 breach, which impacted 500 million users, […]

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Fear Not: You, Too, Are a Cybercrime Victim!

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Maybe you’ve been feeling left out because you weren’t among the lucky few hundred million or billion who had their personal information stolen in either the Equifax or Yahoo! breaches. Well buck up, camper: Both companies took steps to make you feel better today.

Yahoo! announced that, our bad!: It wasn’t just one billion users who had their account information filched in its record-breaking 2013 data breach. It was more like three billion (read: all) users. Meanwhile, big three credit bureau Equifax added 2.5 million more victims to its roster of 143 million Americans who had their Social Security numbers and other personal data filched in a breach earlier this year. At the same time, Equifax’s erstwhile CEO informed Congress that the breach was the result of even more bone-headed security than was first disclosed.

To those still feeling left out by either company after this spate of news, I have only one thing to say (although I feel a bit like a broken record in repeating this): Assume you’re compromised, and take steps accordingly. Continue reading Fear Not: You, Too, Are a Cybercrime Victim!→

Congress rips ex-Equifax CEO over breach: ‘I don’t think we can pass a law that … fixes stupid’

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Lawmakers shamed former Equifax CEO Richard Smith Tuesday over the company’s humongous data breach, scolding him over everything from allowing the breach to happen to the long list of issues that stemmed from the company’s public response. Smith took questioning from the House Energy and Commerce’s Subcommittee on Digital Commerce and Consumer Protection, the first of three breach-related hearings scheduled for this week. While the panel lambasted him for the company’s actions,  Smith offered little details outside of his prepared testimony. In an exchange with Rep. Greg Walden, R-Ore., Smith explained that the breach occurred because IT and security personnel at Equifax failed to find and patch the software vulnerability after being notified by the Department of Homeland Security. “It appears this breach happened because the company didn’t know it was running certain software on it’s system,” Walden said. “How does this happen when so much is at stake? I don’t think […]

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Equifax CEO retires after mega breach

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Equifax CEO Richard Smith will be stepping down from his position as chairman of the board and chief executive officer, the company announced Thursday. The change comes three weeks after the credit monitoring company revealed a data breach affecting up to 143 million U.S. residents. Data on names, Social Security numbers, birth dates, addresses and, in some instances, driver’s license numbers were stolen from the company’s databases. “Serving as CEO of Equifax has been an honor, and I’m indebted to the 10,000 Equifax employees who have dedicated their lives to making this a better company,” Smith said in a release.  “The cybersecurity incident has affected millions of consumers, and I have been completely dedicated to making this right.  At this critical juncture, I believe it is in the best interests of the company to have new leadership to move the company forward.” Current Equifax board member Mark Feidler will serve […]

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Equifax CEO called to testify before Congress about breach

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Equifax’s chief executive was formally invited Wednesday to testify Oct. 3 before Congress by top members of the House Energy and Commerce Committee. The invitation to Chairman and CEO Richard F. Smith comes less than a week after Equifax, a massive multinational credit reporting company, announced a data breach affecting up to 143 million Americans. “We look forward to hearing directly from Mr. Smith on this unprecedented breach that has raised serious questions about the security of consumers’ personal information,” full committee Chairman Greg Walden, R-Ore., and Digital Commerce and Consumer Protection Subcommittee Chairman Bob Latta, R-Ohio, said in a statement. “We know members on both sides of the aisle appreciate Mr. Smith’s willingness to come before the committee and explain how our constituents might be impacted and what steps are being taken to rectify this situation.” The committee has jurisdiction over the Federal Trade Commission and Consumer Financial Protection Bureau, two of the agencies […]

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