Urvashi reports:
In 2017, Equifax, one of the largest credit reporting agencies in the United States, announced a significant data breach that exposed the personal and financial information of about 147 million individuals. This highly sensitive data included Social Security numbers, birth dates, addresses, and, for some victims, credit card information. News of the breach raised serious concerns about data security standards within major credit reporting agencies.
As a result of the incident, Equifax reached a historic settlement worth over $425 million to help those impacted recover from the potential harm caused by the breach. Under this agreement, eligible individuals will receive their payments starting in December 2024 or the next month.
The deadline for filing claims or exercising your options already passed. At this point, people who opted for payment should start receiving checks. But of note, PII also reports:
While the focus currently is on delivering final payments to claimants, it is also crucial to acknowledge the extensive measures taken by Equifax in the years following the breach. The company has invested over $1.5 billion to improve its security and technology. Equifax has also added advanced cybersecurity systems to better detect and respond to threats.
Read more at Pasteur Institute of India News.