Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Equifax will pay up to $ 650 million for data corruption

Equifax will pay up to $ 650 million for data corruption

Equifax will pay at least $ 575 million, potentially up to $ 700 million, to settle its allegations of a huge breakthrough in data for 2017, a US regulator said on Monday. said the credit company would have to implement a comprehensive information security program.

The largest breakthrough in data collection has attracted very close probes to Equifax from the Federal Trade Commission, the Financial Consumer Protection Board and almost all state lawyers. He also decides forthcoming lawsuits against the company against class.

"This instability, negligence and weak security standards threatened the identity of half the US population," said New York's Attorney General, Letizia James

. the data breach compromised personal information, including social security numbers, to 1

43 million Americans. , Washington politicians questioned how private companies could gain so much personal data by launching efforts to strengthen consumers' ability to protect and control their information. up to $ 425 million depending on its use. Beneficiaries eligible for funding must file claims to show that they are victims of fraud or have set up credit monitoring services following the infringement. will also be entitled to 10-year free credit monitoring from Equifax, and the company has agreed to make it easier for consumers to freeze credit or challenge inaccurate information in credit reports.

The Company also agreed to strengthen its security practices and its policies to be regularly evaluated by a third party.

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