Tag: settlement

Consequences of the 2017 Equifax Data Breach

16. April 2020

It has been almost two years since the consumer credit reporting agency Equifax suffered a massive Data Breach.

Back in May 2017 Equifax has been hacked, but the operators first noticed the breach much later, at the end of July 2017 and informed the public on the beginning of September 2017.

The disclosure of sensitive data from approximately 143 million, not only US based consumers, was to be feared (we reported).

After the breach Equifax invested $ 200 million on the data security infrastructure and found itself in the middle of class action suits.

Now, two years after the hack, Reuters reports the settlement of a lawsuit in connection with which Equifax pays $ 19.5 million to Indiana and also the Chicago Daily Law Bulletin reports a $ 1.5 million settlement between the city of Chicago and Equifax.

Besides Indiana also Massachusetts filed a lawsuit against Equifax, which is reported to be settled as well – the amount of the settlement is not yet known.