Cybersecurity expert Morgan Wright discusses why the Equifax data breach probably affects more than 143 million people, and what the penalty should be for the company’s CEO, Richard Smith.
The blows keep coming for Equifax (NYSE:EFX) as shares continue to tumble and the Federal Trade Commission announced plans to open an investigation into the credit reporting company Thursday after the company went public with its massive security breach last week, putting 143 million American’s personal data at risk.
In case you missed all drama, here’s a timeline of events, involving one of the biggest security breaches of all time.
Monday, September 11 - Two key US senators ask Equifax Inc. to answer detailed questions about a breach of information affecting up to 143 million Americans, including whether U.S. government agency records were compromised in the hack.
Tuesday, September 12 - Equifax CEO Richard Smith writes an op-ed for USA Today apologizing for the intrusion and vows to make changes to protect against cyber crimes in the future.