Equifax CEO promises changes: ‘We accept the criticism’

Equifax CEO Richard Smith has broken his silence on the massive data breach that affected millions of consumers.

In an opinion article published late Tuesday in USA Today, Smith apologized for the crisis, describing the hack as “the most humbling moment in our 118-year history.”

“We are devoting extraordinary resources to make sure this kind of incident doesn’t happen again,” he wrote. “We will make changes and continue to strengthen our defenses against cyber crimes.”

Equifax has come under fire for its handling of the huge cybersecurity breach, which compromised the personal information of as many as 143 million Americans. The company is one of three nationwide credit-reporting companies that track and rate the financial history of U.S. consumers, gathering data from credit card companies, banks, retailers and lenders.

After detecting the hack, Equifax waited six weeks before it alerted the public last week. Rather than notifying people who were affected, it set up a website that wasn’t ready for days.

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