The former Chairman and CEO of Equifax apologized repeatedly at a congressional hearing for the theft of millions of people's personal data in a hacking breach. Fred Katayama reports.
Equifax's former head Richard Smith repeatedly apologized as he testified on Capital Hill about the data breach that exposed personal information of more than 140 million of Americans. (SOUNDBITE) (English) FORMER EQUIFAX CHAIRMAN AND CEO RICHARD SMITH, SAYING: "I'm here today to say to each and every person affected by this breach, I'm truly, deeply sorry for what happened. I've talked to many consumers. I read your letters. And Equifax has committed to make it whole for you." Smith also said that the Department of Homeland Security told Equifax about a gap in its online security in March. But the company did nothing. He blamed technology and human error for the breach. Cyber security expert Adam Levin. (SOUNDBITE) (English) CYBERSCOUT, CHAIRMAN AND FOUNDER, AUTHOR OF "SWIPED" ADAM LEVIN, SAYING: "Well, when somebody tells you they're deeply sorry, and this was a disappointing event for the company, that just don't feed the bulldog. He claims that was human error and technical error. It was both. But, also, the way they responded to this whole thing was just inadequate and stupid." Smith also said, the three Equifax executives who sold company's stock days after it learned about the breach did not know about the breach at that time.