3.5 2017 withdrawal of vulnerable mobile apps.3.4 2017 exposure of Argentine consumer data.3.1 2016 advance-warnings of insecure systems.On 19 December 2019, a federal judge in Atlanta awarded class-action attorneys representing consumers approximately $77.5 million, suggesting that individual consumers might expect to receive around six or seven dollars. īy September 2019, however, Equifax had added qualifications and "hurdles" to its claims process which put in doubt whether the previously announced cash settlement of $125 per affected consumer would actually be awarded. In July 2019, The New York Times, the New York Post and other media reported Equifax had agreed to pay approximately $650 million to settle with the Federal Trade Commission (FTC) to resolve investigations by several state attorneys general, the Consumer Financial Protection Bureau, the FTC, and a consumer class-action lawsuit related to the data breach. An Equifax manager, Sudhakar Reddy Bonthu, also pleaded guilty to insider trading and received a sentence of 8 months of home confinement.
#Equifax breach plus#
After an investigation by the FBI, Ying pleaded guilty, was sentenced to four months of prison plus a year of supervised release, and was fined $55,000.00 and ordered to pay restitution of $117,117.61 in June 2019. In March 2018, the Security and Exchange Commission accused Jun Ying, Equifax's former CIO, of illicit insider trading, by selling company stock before the breach was publicly disclosed. The vulnerability in which Chinese hackers leveraged was CVE- 2017-5638, the hackers managed to stay in Equifax systems undetected for approximately 134 days. Residents in the United Kingdom (15.2 million) and Canada (about 19,000) were also impacted. The company claims to have discovered evidence of the cybercrime event on July 29, 2017. customers were affected by the breach, increasing the number of affected to 147.9 million Americans. On March 1, 2018, Equifax announced that 2.4 million additional U.S. Equifax also confirmed at least 209,000 consumers' credit card credentials were taken in the attack.
#Equifax breach driver#
Equifax consumers' personal data, including their full names, Social Security numbers, birth dates, addresses, and driver license numbers. In September 2017, Equifax announced a cyber-security breach, which it claims to have occurred between mid-May and July 2017, where cybercriminals accessed approximately 145.5 million U.S. Įquifax was the subject of more than 57,000 consumer complaints to the Consumer Financial Protection Bureau from October 2012 to September 17, 2017, with most complaints relating to incomplete, inaccurate, outdated, or misattributed information held by the company. The following day, a class-action lawsuit was filed by Jacksonville, Florida resident Nydia Jenkins against Equifax alleging she had received a "substantially pricier car loan" (resulting in an additional loan payment of $2,352 more per year) due to Equifax reporting her credit score 130 points off from what it should have been.
Equifax acknowledged reporting inaccurate credit scores, but insisted the errors had affected only a few people. On 2 August 2022, a week after its CEO Mark Begor was deemed "uniquely qualified to lead the Company" and was granted a $25 million dollar bonus package by Equifax's board, the Wall Street Journal reported that Equifax had sent millions of incorrectly-calculated credit scores to lenders.
#Equifax breach free#
law to provide consumers with one free credit report every year. Like all credit reporting agencies, the company is required by U.S. With over 10,000 employees worldwide, Equifax has US$3.1 billion in annual revenue and is traded on the New York Stock Exchange ( NYSE) under the symbol EFX. Įquifax operates or has investments in 24 countries in the Americas, Europe, and Asia Pacific. In addition to credit and demographic data and services to business, Equifax sells credit monitoring and fraud prevention services directly to consumers. Equifax collects and aggregates information on over 800 million individual consumers and more than 88 million businesses worldwide.
is an American multinational consumer credit reporting agency headquartered in Atlanta, Georgia and is one of the three largest consumer credit reporting agencies, along with Experian and TransUnion (together known as the "Big Three").
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