The Equifax data breach settlement is a class action lawsuit that was filed against the credit reporting agency after it was revealed that they had exposed the personal information of over 145 million people.
The settlement includes a fund of up to $700 million to help those affected by the breach, as well as other relief such as free credit monitoring and identity theft protection. If you were impacted by the Equifax data breach, you may be eligible for compensation from the settlement. Read on to learn more about the settlement and how to file a claim.
What is the Equifax data breach settlement?
Equifax will pay up to $650 million in a settlement with the Federal Trade Commission (FTC), the Consumer Financial Protection Bureau (CFPB), and 50 U.S. states and territories over its massive data breach that exposed the sensitive personal information of nearly 150 million people.
The settlement includes a $425 million fund to reimburse consumers for out-of-pocket expenses and other damages, a $175 million penalty to the CFPB, and up to $100 million in fines to 48 states and Puerto Rico. Equifax will also be required to implement new security measures and submit to regular audits for the next 20 years.
This is one of the largest settlements ever imposed on a company for violating consumers’ privacy rights, and it should send a strong message to other companies that they must take steps to protect consumers’ sensitive information.
If you are one of the millions of people who were affected by the Equifax data breach, you may be eligible for compensation. You can file a claim online or by mail, and you do not need to have proof of purchase or any documents to file a claim.
How to get money from the Equifax data breach settlement
The Equifax data breach settlement provides for a fund of up to $425 million to reimburse eligible consumers for certain out-of-pocket losses related to the data breach, as well as for free credit monitoring services. If you believe you are a victim of identity theft as a result of the Equifax data breach, you can file a claim for reimbursement of certain out-of-pocket losses, such as expenses incurred in connection with:
– Placing a fraud alert or credit freeze on your credit report
– Monitoring your credit report
– Applying for a new line of credit in your name
– Correcting errors on your credit report
You may also be eligible for free credit monitoring services, even if you don’t have any out-of-pocket losses. The deadline to file a claim is January 22, 2020. For more information, visit www.equifaxbreachsettlement.com.
How to prevent yourself from becoming a victim of identity theft
It’s no secret that data breaches are becoming more and more common. In fact, it seems like hardly a week goes by without news of another major breach hitting the headlines. And with each new breach, the risk of becoming a victim of identity theft increases.
But there is some good news – there are steps you can take to help prevent yourself from becoming a victim of identity theft. By being proactive and taking some simple precautions, you can greatly reduce your risk.
Here are some tips to help prevent yourself from becoming a victim of identity theft:
1. Keep your personal information safe. Be careful about who you share your personal information with and only give it out when absolutely necessary. When possible, use strong passwords and don’t reuse passwords across multiple accounts.
2. Monitor your accounts regularly. Check your bank and credit card statements frequently for any suspicious activity. If you spot something that doesn’t look right, report it immediately.
3. Be cautious about what you click on. Be wary of links in emails, social media posts, and text messages, even if they appear to be from a trusted source. These links could lead to phishing websites that are designed to steal your personal information.
4. Protect your devices with security software. Install anti-virus and anti-malware software on all of your devices and keep it up-to-date to help protect against the latest threats.
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