Home » Money

Yahoo, Equifax apologize with fixes. Congress doesn't buy it

09 November, 2017, 00:52 | Author: Paula Vaughn
  • Former Yahoo CEO Marissa Mayer    
   Matt Winkelmeyer  Getty Images for Glamour

Initially, Yahoo estimated that a billion users had been affected, but in October 2017, it acknowledged that hackers actually compromised three billion accounts.

Verizon acquired most of Yahoo's assets in June, the same month Mayer stepped down.

John Thune (R-S.D.), chairman of the Senate Committee on Commerce, Science, and Transportation, today convened a hearing titled, "Protecting Consumers in the Era of Major Data Breaches".

While testifying, the 42-year-old said she wants to "sincerely apologize to each and every one of our users.' She said that the company defended itself against a barrage of state-sponsored and private hacks over the years".

At least 145.5 million USA consumers were affected by a separate attack on credit reporting company Equifax, an attack that has already been scrutinized heavily by regulators. But- despite prodding from senators -Equifax CEO Paulino do Rego Barros Jr. did not agree to stop use of controversial artibration agreements, nor did he commit Equifax to doing personalized outreach, free credit monitoring, or extended benefits to veterans. Mayer said it's still unclear who is behind the 2013 hack.

Richard Smith, who was Equifax's CEO when the attack occurred earlier this year, also is set to testify.

Send money to friends in Messenger
The new payments feature will compete against a growing number of P2P payment apps like Venmo, Paypal , and several others. SOCIAL NETWORKING GIANT Facebook has launched its payment by Messenger service to United Kingdom users.

During the testimony, both companies talked up how they've changed since suffering their historic breaches - while senators called out their inaction.

Last month, Yahoo said the breach apparently exposed all its users at the time it occurred.

The cyber thieves - identified by Mayer as Russian intelligence officers and state-sponsored actors - did not get their hands on "passwords in clear text, payment card data, or bank account information", Yahoo said at the time. Smith said Equifax decided not to encrypt its massive database of sensitive data because it felt its firewalls and layers of security were enough.

Yahoo had bumped its estimate of affected accounts from a previous 1B to all of them (3B in total).

The hearing comes after Equifax said failure to install a security update may have led to exposure of information of more than 145 million people in the U.S. and nearly 700,000 people in the UK.

As Verizon takes over Yahoo, Zacharia promised better security for the future, though senators remained skeptical during the hearing. Sen.

Recommended:

  • Demonetisation was organised loot: Manmohan Singh

    Demonetisation was organised loot: Manmohan Singh

    While opposition parties have chose to observe Wednesday as a "black day", the BJP has dubbed it "anti-black money day". He said demonetisation had "ethical and moral" rationale behind it and therefore it was also "politically correct".
    Kmart Black Friday 2017 ad leak

    Kmart Black Friday 2017 ad leak

    For instance, at Harbor Freight Tools, the 17-foot Type 1A Multi-Task Ladder was on sale for $115 during Black Friday 2015. Most Kmart stores will be open from 6 a.m. -10 p.m. on Thanksgiving, before reopening at 6 a.m. on Black Friday.
    Broadcom plans Qualcomm bid according to sources

    Broadcom plans Qualcomm bid according to sources

    The deal represents a 28% premium to Qualcomm's share price prior to rumors of the deal which sent the stocks higher last week. The company has gone so far with its Apple fight that it recently filed a lawsuit seeking to ban sales of the iPhone in China.
  • Priti Patel arrives at Downing Street for showdown with PM

    Priti Patel arrives at Downing Street for showdown with PM

    Patel's meetings in Israel were arranged by Tory peer Lord Polak, honorary president of the Conservative Friends of Israel. Mr Burt faced calls of "Where is she?" from the opposition benches when he rose to respond on Ms Patel's behalf.
    Great Dane Christensen proof Chelsea system works - Emenalo

    Great Dane Christensen proof Chelsea system works - Emenalo

    The win in west London was without David Luiz - who was omitted from the squad after falling out with Conte. He has previously fallen out with Diego Costa and Nemanja Matic, who both left the club.
    Netflix Email Scam Targets Millions Of Subscribers

    Netflix Email Scam Targets Millions Of Subscribers

    Police are warning those who receive the email to avoid clicking on any links or open attachments from any trusted organisation. Police are urging the community to watch out for a scam email targeting Netflix subscribers , Queensland Police say.
  • OnePlus 5T set to launch: What rumours have to say

    OnePlus 5T set to launch: What rumours have to say

    When asked if 4,000 Yuan (around Rs. 39,000) would be enough to buy the new OnePlus phone, the CEO commented "Enough". OnePlus 5T is the successor of the OnePlus 5 series smartphone that is set to launch on November 16 , 2017 in India.
    Ezekiel Elliott's Attorneys Attempting To Reach Settlement With NFL

    Ezekiel Elliott's Attorneys Attempting To Reach Settlement With NFL

    ESPN reported earlier Sunday that Elliott's outside attorneys have attempted to reach a settlement with the NFL. He was never charged with a crime by the Columbus, Ohio, authorities who investigated the allegations.
    Three terrorists, army man killed in an encounter in Pulwama

    Three terrorists, army man killed in an encounter in Pulwama

    Additional security forces were rushed to further cordon off the areaand foil any attempts by militants to escape. Police officials confirmed to Kashmir Life that three militants and the army man were killed in the encounter.
  • New Champion Crowned On Smackdown Live (SPOILERS)

    New Champion Crowned On Smackdown Live (SPOILERS)

    Stick around after Smackdown for my live thoughts on the "Nature Boy" documentary on Ric Flair that will air on ESPN at 9CT/10ET. Styles will now move on to face Brock Lesnar at WWE Survivor Series in a "champion versus champion" match.
    Harvey Weinstein hired elite intelligence agency to target accuser Rose McGowan, others

    Harvey Weinstein hired elite intelligence agency to target accuser Rose McGowan, others

    Last night, it was announced that Weinstein has received a lifetime ban from the Academy of Television Arts & Sciences. More than anything, I hope these revelations put to rest this idea that women should "just speak up".
    Iran Parades Powerful Missile on 38th Anniversary of US Embassy Takeover

    Iran Parades Powerful Missile on 38th Anniversary of US Embassy Takeover

    Tighter security was handled by Iranian police and the hard-line Islamic Revolutionary Guard Corps. State television said similar celebrations were being held in other Iranian cities and towns.


Popular

Disney Held Talks to Buy 21st Century Fox's Entertainment Assets
The deal, should it proceed, could happen during a prime time for Disney , which is planning to launch its own streaming service. Chief Executive Bob Iger has said he plans to retire from Disney in July 2019, and the company is searching for a successor.

Former Trump adviser Page met Russian officials in 2016 Moscow trips
Trump and a desire to work together toward devising better solutions in response to a vast range of current global problems". Page told the committee that he had not worked with the Russians to hack emails or otherwise influence the election.

Auto slams into NSW classroom: 2 boys dead
Two eight-year-old boys were critically injured and were unconscious when they were taken to The Children's Hospital at Westmead. She explainned: "There were a number of distressed and overwhelmed children and teachers at the scene of a frightful accident".

FSU Imposes Interim Suspension on Fraternities, Sororities After Student's Death
Tallahassee, Florida police said Pi Kappa Phi pledge Andrew Coffey, 20, died at an off-campus chapter party on Friday, Nov. 3. In a separate and unrelated case, fraternity member, Garret Marcy of Phi Delta Theta was charged with selling drugs.

U.S. ground invasion of North Korea could cost 'millions' of lives
Addressing the USA military personnel stationed at the Japanese air base, Trump warned "no one, no dictator, no regime. should underestimate American resolve".