![]() ![]() The claims process has not opened yet, but you can sign up for email notifications about the Equifax settlement from the FTC.ĭuring a conference call Monday, a spokesperson from Equifax said that data from the 2017 breach has yet to be discovered for sale on the dark web. As part of that $20,000 restitution, consumers can submit claims for any time they had to spend dealing with data breach - $25 per hour, up to 20 hours, according to the Federal Trade Commission. consumers and Equifax as we move forward from the 2017 cybersecurity incident."Īccording to Equifax, individual consumers will be able to claim up to $20,000 for any losses or fraud caused by the breach or any out-of-pocket expenses they may have incurred, such as buying credit monitoring services or paying to freeze and unfreeze their credit reports. "This comprehensive settlement is a positive step for U.S. "We have been committed to resolving this issue for consumers and have the financial capacity to manage the settlement," Equifax CEO Mark Begor said in a statement. The restitution fund will have $300 million dedicated to consumer compensation, with an additional $125 million at the ready if the initial funds run out. No word back yet, but we’ll update this story as and when more information comes to hand.The proposed settlement, which still needs to be approved by a judge in what's expected to be a six-month process, includes $425 million to directly help consumers affected by the breach. The Daily Swig asked the FTC to offer an estimate on the number of claimants and the payouts each is likely to receive. The settlement includes up to $425 million to help people affected by the data breach, as explained in an update from the FTC.Ī portion of this figure is earmarked to cover losses and expenses – legal and otherwise – incurred by victims of identity theft and fraud, while some will likely go towards covering credit monitoring services and the remainder going to claimants who stake their claim before a January 2020 deadline. Global settlementĮquifax has agreed to a global settlement with the Federal Trade Commission (FTC), the Consumer Financial Protection Bureau, and 50 US states and territories. The Chinese authorities deny any involvement in the hack. The quartet – alleged members of the PLA 54th Research Institute – were served with a nine-count indictment, as detailed in a US Department of Justice statement on the case. In February 2020, US authorities unsealed an indictment charging four named members of the Chinese military with the cyber-attack. This compromised server acted as a springboard that allowed hackers to access Equifax’s internal systems before stealing credentials that allowed them to query its databases.įROM THE ARCHIVES Equifax a year on: Little has changed – at least for the billion-dollar companyĭatabase queries were stored in compressed files that were slowly and systematically siphoned off. The root cause of the attack was a critical Apache Struts vulnerability, discovered and resolved in March 2017, that was left unresolved on at least one web-facing Equifax server.Īttackers took advantage of an unpatched Apache Struts installation to hack into Equifax’s dispute resolution portal. Subsequent computer forensics work revealed attackers had access to Equifax systems between May and July 2017, when the breach was detected and resolved. A smaller number of Canadians were also affected.Ĭatch up on the latest data breach news and analysis ![]() ![]() The breach exposed the credit card data of a smaller subset of around 209,000 victims.Īn estimated 15 million British citizens were affected by the incident, of which 694,000 had sensitive data exposed. Names, Social Security numbers, birth dates, addresses as well as driver’s license details of more than 10 million individuals were exposed after attackers used a known vulnerability to break into Equifax’s databases. Settlement includes up to $425 million to help people affected by 2017 mega breachĬredit reference agency Equifax has finalized a settlement for a 2017 data breach that affected more than 147 million US citizens and 15 million Brits.Įquifax first admitted the massive breach in September 2017. ![]()
0 Comments
Leave a Reply. |