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Home / Business / Equifax will pay up to $ 700 million to settle the investigation due to data breach. This way you can claim your money

Equifax will pay up to $ 700 million to settle the investigation due to data breach. This way you can claim your money



On Monday, the Federal Trade Commission decided that the credit reporting agency Equifax would have to pay up to $ 700 million in individual damages and civil penalties due to the hacking.
According to the Commission's online process, those whose personal information was postponed can receive free credit monitoring for 10 years: four years via the three major credit agencies (Equifax, Experian and TransUnion) and six years specifically through Equifax. [19659003] If you already have credit monitoring, you can choose to receive $ 125.

For those who have to spend time and money as a result of the breach, Equifax can provide larger amounts, up to $ 20,000.

According to the FTC, these losses may include unauthorized fees on your accounts, lawyer or accountant fees, the cost of freezing or freezing your credit report, or the cost of credit monitoring.

If you can provide documentation about your time spent throwing yourself away with the collapse of the data, you can be paid $ 25 per hour for up to 20 hours of personal time spent.

You can file a claim on Equifax's data breach settlement page. Equifax has a website where you can find out if your personal information was postponed.

The deadline for excluding yourself or opting out of the settlement process is November 1

9, and all claims must be filed by January 22.

The data breakthrough was the biggest in history

In September 2017, Equifax revealed that hackers had exploited a security error to access the company's customer data.

Sensitive information was revealed, including name, date of birth, driver's license number, social security number and addresses.

According to the settlement, Equifax will have to pay between $ 300 million and $ 425 million to the people to whom the data was exposed, and another $ 275 million in civil penalties for 48 states, Washington, Puerto Rico, and the Bureau of Consumer Finance Protection Bureau.

"Companies that profit from personal information have an extra responsibility to protect and secure this data," said FTC chairman Joe Simons as a tatement. "Equifax failed to take basic steps that may have prevented the breach."


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