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The credit reporting agency reached a $700 million settlement with government officials last week, agreeing to pay as much as $425 million of that money to consumers affected by the data breach.
The breach led to a record settlement with the FTC, a dramatic downgrade in Equifax’s own credit rating, and close to $3 billion in expenses for the company as it restructured both its C-suite ...
An Equifax internal audit in 2015 showed that there was a large backlog of vulnerabilities to patch, that Equifax was not following its own timescales on patching them, that IT staff did not have a comprehensive asset inventory, that Equifax did not consider how critical an IT asset was when prioritising patches, and that the patching process worked on an 'Honour system'.
The data was sent over fourteen emails and it contained personally identifiable information (PII) of consumers. [5] The employee also sent two spreadsheets with names and transaction-specific account numbers for about 256,000 consumer accounts at a single institution. [ 5 ]
Equifax primarily operates in the business-to-business sector, selling consumer credit and insurance reports and related analytics to businesses in a range of industries. [citation needed] Business customers include retailers, insurance firms, healthcare providers, utilities, government agencies, as well as banks, credit unions, personal and specialty finance companies and other financial ...
The company has agreed to a $700 million settlement, and you may be owed up to $20,000. Equifax breach settlement: How to get a check, credit monitoring or freeze [Video] Skip to main content
If any financial information, such as credit card numbers, was leaked in a data breach, request a freeze on your credit by the top three credit vendors (TransUnion, Equifax and Experian).