Economy

San Francisco Sues Equifax Over Massive Data Breach

San Francisco Sues Equifax Over Massive Data Breach”

Equifax Inc said on Tuesday its Chief Executive Officer Richard Smith will retire following a massive data breach at the credit reporting firm that exposed personal details of up to 143 million USA consumers. The chief information officer and chief security officer left the company on September 14.

Meanwhile, the city of San Francisco has filed a lawsuit against Equifax on behalf of the state of California. It seeks tens of millions of dollars in civil penalties as well as restitution for some consumers. City Attorney Dennis Herrera hit Equifax over its "incompetence", saying the company was "asleep at the switch and upended the lives of millions of people".

This is not the first suit filed against Equifax - as the Associated Press reports, the state of MA has already filed its own suit.

San Francisco became the first city to sue Equifax (EFX) over the data breach that potentially engulfed 143 million people in the U.S. Despite resigning, Smith will be compelled to front Congress and explain how the cyber-breach occurred, what, if any, electronic safeguards the company had in place, and what it plans to do besides offering free credit monitoring and identity theft protection. Equifax disclosed earlier this month that hackers had access to its systems between mid-May and July, in one of the largest data breaches in the United States.

Richard "Rick" Smith of Equifax.



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