The FTC has issued an update on the Equifax data breach settlement 2022. The settlement administrator begins to investigate current claims for time spent and out-of-pocket expenses.
How much is the Equifax Settlement per person 2022? How do I receive compensation? What is the email address of the administrator? What is the monetary value of the compensation? In this post, we detailed everything regarding the Equifax Data Breach Settlement.
Equifax data breach settlement 2022
What is the amount of the Equifax data breach settlement 2022? A portion of the compensation, up to $425 million, would be utilized to aid anyone affected by the data leak. The Equifax data breach happened five years ago. On September 7, 2017, Equifax announced that one of its computer networks had had a data leak, exposing the personal information of 143 million customers, which was later raised to 147 million. That data comprised customers’ names, addresses, dates of birth, Social Security numbers, and credit card details, all of which may be exploited in identity theft and other sorts of fraud.
According to the terms of the settlement, Equifax agreed to establish a fund to provide clients with free credit monitoring, identity theft protection, and cash reimbursements of up to $20,000 to anyone affected by the event. The company must also pay court expenses and fines imposed by the government.
How much is the Equifax Settlement per person 2022?
Customers can choose between receiving up to $125 or receiving free credit monitoring. Under the terms of the settlement, you are entitled to free credit monitoring services.
Equifax will provide up to six extra years of free one-bureau credit monitoring, and Experian will provide at least four years of credit monitoring at each of the three major agencies and $1,000,000 in identity theft insurance. If you were minor in May 2017, you are eligible for a total of 18 years of free credit monitoring. Check out the FTC notice for more details.
Equifax data breach settlement 2022 email
Official communications concerning the settlement will be sent from the Equifax Breach Settlement Administrator, [email protected]. The administrator of the settlement is now reviewing time and out-of-pocket loss claims. If further information is needed for your claim, the administrator will contact you by email or letter. The settlement administrator also notifies clients who are eligible for a settlement payout to propose additional payment options.
Equifax data breach settlement 2022: How to get compensation?
To be eligible for either free credit monitoring or monetary reimbursement, you must make a claim (or both). You can file a claim either online or via email.
Your claim for Out-of-Pocket Losses or Time Spent must be submitted within the “Extended Claims Period,” which spans from January 23, 2020 through January 22, 2024.
Equifax data breach settlement 2022 amount
Equifax has achieved a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau, and all 50 states and territories. A portion of the compensation, up to $425 million, would be utilized to aid anyone affected by the data leak.
Equifax data breach settlement 2022 payout date
Claims must be submitted by January 22, 2024. Payouts will begin after this date.
What is Equifax?
Equifax Inc., an American multinational corporation headquartered in Atlanta, Georgia, is one of the three largest consumer credit reporting organizations, together with Experian and TransUnion (collectively known as the “Big Three”). Equifax collects and aggregates data on over 88 million companies and 800 million individual customers globally. Equifax offers credit monitoring and fraud prevention services directly to individuals and provides businesses with demographic and credit data and services.
Equifax has operations or financial interests in 24 countries in the Americas, Europe, and the Asia Pacific. Equifax, which employs over 10,000 people worldwide and earns $3.1 billion in sales annually, is traded on the New York Stock Exchange under the symbol EFX.
We hope that you enjoyed this article on the Equifax data breach settlement 2022. If you did, we are sure that you will also enjoy reading some of our other articles, such as why do top international banks collaborate on the Ripple Network, despite the lawsuit, or Optus data breach: Data of 9.7 million costumers possibly stolen.