Almost upto $700M settlement for a massive data breach by one of the largest company in the world.
Equifax Company Overview
Equifax Inc. is a company that collects credit related information around the world of more than 800 Million people covering 24 countries. Equifax, founded in 1899 and it is one of the 3rd largest credit agencies in annual revenue nowadays. Equifax deals mostly in B2B and deals in customer credit and insurance reporting.
Equifax Data Breach Insights
Equifax will be settling for the data breach that happened in 2017 According to an Announcement on Monday by Nytimes which is still under review from the court. Soon it will be settled on upto $700 Million in fines. These penalties are for intrusion of consumer related information that was due to Equifax data breach. There are claims ranging from State, federal and customers over a 2017 data breach that revealed more that 147 million people sensitive information. This data breach is one of the most destructive as of the digital thefts ever recorded and will be the largest settlement ever paid.