Equifax to pay up to $700M to U.S. over 2017 data breach

Equifax can pay up to $ 700 million to settle with the United States, claiming an information breach in 2017 that revealed social security numbers and various non-public knowledge in about 150 million other people.

The agreement with the US Shopper Monetary Coverage Bureau and the Federal Industry Fee over 48 states and the District of Columbia and Puerto Rico would provide up to $ 425 million in financial support to buyers, a civilian $ 100 million penalty and other help.

The breach was one of the greatest threats ever threatened with personal knowledge. The patrons' reporting company, which is mainly based in Atlanta, has not found the assault for more than six weeks. The compromised information contained social security numbers, delivery dates, addresses, license numbers, bank card numbers, and in some cases passport information.

Interested buyers may also have the right to receive money by submitting a number of claims along with used funds, purchasing credit tracking or identity theft after the violation and the price of freezing or canceling credit ratings from any company with buyer reporting.

All interested buyers could obtain a minimum of 10 years of unsecured credit monitoring, at least seven years of non-renewed identity recovery products and services, and started on December 31 for a period of seven years. US buyers may request up to six unprinted copies in their Equifax credits for up to 12 months.

If buyers choose not to subscribe to the non-mature credit tracking product to be obtained during the agreement, they will apply up to $ 125 as a refund for the price of a credit monitoring product in their selection. Buyers must disclose a statement to obtain monitoring of RAL or MONEY.

Equifax to pay up to $700M to U.S. over 2017 data breach

"Companies that enjoy non-public knowledge have an additional duty to protect and protect this information," said FTC President Joe Simons. "Equifax has not taken basic precautions that may have avoided the violation that has affected about 147 million buyers. This agreement provides that the company should take steps to support its information security in the future and to ensure that buyers are damaged. because of this violation can help to protect themselves from robbery and fraud ".

The announcement on Monday confirms a document via The Wall Boulevard Magazine, which the credit reporting company had reached the United States.

The company stated earlier that it had set aside about $ 700 million to hide the planned settlements and fines.

The agreement still needs to be approved through the federal district court in northern Georgia district.

Equifax Inc. stocks have reasonably declined before the hole clock.