Following data breach, 36 Senators request investigation into Equifax stock sales

15 September, 2017, 00:36 | Author: Celia Hoffman
  • Regarding Equifax | Make Credit Freezes Free In Illinois

Last night, the service said the core of the compromise was a vulnerability in Apache's open-source Struts software.

The U.S. government is investigating the Equifax breach.

Two months later, that paid off when they were able to steal up to 143 million people's private information.

That is how many US consumers Equifax says could potentially be impacted by a data breach that occurred in mid-May and lasted until July 29 when the company discovered it.

Apache Struts is used by a number of large corporations including the Fortune 100 companies, powering front and backend applications. Apache Struts software is especially time-consuming to update because each application needs to be fixed individually.

'This illustrates how widespread the risk is'.

The company's stock dropped another 8% in early trading Thursday following the FTC statement. It appears that the credit firm failed to install the security updates that came to patch it up. These would all have to be tested extensively before they went live.

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Sen. Mark Warner, D-Va., had asked the FTC to investigate the Equifax hack and the company's CEO, Richard Smith, has been invited to testify to the House Energy and Commerce Committee.

'We know that criminals exploited a U.S. website application vulnerability. The two-month gap between when the patch was issued and when the attackers breached Equifax's network was a particularly risky time, as hackers began immediately exploiting the flaw on websites that didn't apply the fix, according to technology website Ars Technica.

"We continue to work with law enforcement as part of our criminal investigation, and have shared indicators of compromise with law enforcement", the website said.

The credit monitoring company's call centre staff said that Canadians who have Equifax accounts in the USA could be at risk of having their data compromised, such as those who have lived, worked or applied for credit south of the border.

The breach affected well over a third of the population in America, which stood at 324 million as of January 1, 2017, according to the US Census Bureau. Hackers made off with a hoard of critical data on almost half of the USA population, including social security numbers, addresses and birth dates.

The company said that more than 200,000 credit card numbers were illegally obtained, in addition to 'certain dispute documents with personal identifying information for approximately 182,000 United States consumers'. Equifax Chief Executive Officer Richard Smith, is expected to testify on October 3 before a U.S. House of Representatives panel.

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