Equifax in failure to fix security hole in March

Credit reporting giant Equifax Inc was alerted in March to the software security vulnerability that led to hackers obtaining personal information of more than 140 million Americans but took months to fix it, its former boss says in testimony to be delivered to Congress today.

“It appears that the breach occurred because of both human error and technology failures,” former CEO Richard Smith said in written testimony released yesterday by the Energy and Commerce Committee.

Equifax was alerted to the breach in March by the US Homeland Security Department. Smith, 57, said he was retiring from the company last week and would forgo this year’s bonus as criticism mounts over the attack, which was not made public until 7 September and has triggered probes by multiple federal and state agencies, including the US Justice Department.

“I am here today to apologise to the American people myself,” Smith adds in the testimony.