This week, the settlement was approved in the U.S. By late September, over 200,000 people signed a petition to force Equifax to pay more to the affected people.
#EQUIFAX BREACH SETTLEMENT FULL#
Federal Trade Commission (FTC), the Consumer Financial Protection Bureau (CFPB), and 50 states.Īt the time, the company told customers that they could receive free credit monitoring or $125 in cash, and that they were also eligible for up to $20,000 in cash for the time spent dealing with the breach.Ī couple of weeks later, the FTC warned that Equifax customers affected by the breach were unlikely to receive the full $125 cash payment, because payments would come from a fixed pot of $31 million. The credit reporting agency announced in July 2019 it was prepared to pay up to $700 million to settle charges brought by the U.S. Roughly 147 million people had their personal information compromised in the incident, which was likely the result of Equifax’s negligence, as per a Staff Report from the United States Senate’s Permanent Subcommittee on Investigations published in March last year. On January 13, 2020, a federal court approved the proposed settlement for the class action suit filed against Equifax over the massive data breach it disclosed in September 2017. To conclude, it’s disheartening to see that whilst a claim settlement has been agreed to help those who were innocent victims of Equifax’s data breach in 2017 the process itself is flawed and open to exploitation – meaning customers could fall victim again.Court Approves Equifax Data Breach Settlement There are lots more other similar domains available at the time of writing this but the KYND credit card can only fork out so much when it should have actually been done by those being paid to set up and run this settlement. In fact, we have actually registered some of these ourselves to prevent abuse.
A quick check on a popular domain registrar reveals the following domains were available: Secondly, registering domains that look like is an obvious defensive step to stop scammers creating look-a-like domains to host phishing or impersonation sites. Given there were 147 million individuals affected by the breach, a scammer doesn’t even have to be that selective with their target email address list!
Unfortunately only SPF has been implemented for which means this domain is wide open to being spoofed by anyone. The very basics are called SPF, DKIM and DMARC which, if implemented correctly, will prevent the email address being spoofed and used to phish or target breach victims to extract even more of the personal and financial details. High profile campaigns such as this are the perfect raw material to support a phishing or social engineering attack and there are some basic protections that should be put in place to prevent the Internet domain being abused. You would expect the internet domain being used to promote the settlement claims (would be protected, in reality it is wide open to being spoofed by anyone. You would assume after this breach that Equifax and the governing bodies managing the settlement process would have robust measures in place to prevent it from actually being exploited by scammers.įirstly, the proposed settlement is pending approval by a court but when this happens individuals will be directed to to check their eligibility and register a claim.
states and territories which includes up to $425 million to help people affected by the data breach. The company has now agreed to a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau, and 50 U.S. In September of 2017, Equifax announced a data breach that exposed the personal information of 147 million people. Why innocent victims could fall victim again
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