Equifax near deal to pay about $700 million over data breach

Credit reporting company Equifax Inc. offices are

Credit reporting company Equifax Inc. offices are

WASHINGTON, July 20 ― U.S. credit agency Equifax is close to a US$700 million (RM2.87 billion) settlement agreement with authorities over the theft of sensitive personal data of almost 150 million customers, the Wall Street Journal reported.

The agreement with authorities including the Federal Trade Commission (FTC) and state attorneys general may be announced as soon as Monday, the person said, asking not to be identified discussing confidential talks. The exact amount of money Equifax will have to pay may change, depending on the number of consumer claims filed.

A fund will be established to compensate consumers for the harm that they suffered as a result of the breach, according to the settlement reported by the paper.

Portugal fire: Over 1000 firefighters tackle blaze, seven reportedly hurt
The fires started on Saturday afternoon and were fanned by strong winds that made them more hard to contain. Authorities have evacuated villages and fluvial beaches as a precaution and 30 people have been injured.

Back in 2017, the breach compromised social security numbers, birthdays, addresses, driver's license numbers, and credit cards.

It's been nearly two years since Equifax revealed that a data breach compromised the personal information of more than 143 million Americans. Equifax admitted it was aware of the security flaw a full two months before the company says hackers first accessed its data. A House Oversight Committee report (PDF) released in December 2018 called the breach "entirely preventable", saying Equifax didn't take steps to prevent it and also wasn't ready to handle the aftermath.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.