![]() If consumers in the class action already have credit monitoring, they can instead be paid $125. After those four years, Equifax is offering six extra years of credit monitoring. Though all three bureaus are monitoring, Experian is the company relaying the information to consumers. Here’s what you need to know before putting in a claim for the cash and credit monitoring: Credit and ID theft monitoringĪffected consumers will get four years of credit monitoring and identity protection from Equifax and its two fellow major credit bureaus Experian Getting reimbursed for documented losses tied to the breach could prove difficult. “This breach happened because Equifax was more interested in profits than in infrastructure to protect our data,” Shapiro sad.īegor noted that Equifax is also investing $1.25 billion into its own technology and security. Jacklin Rhoads, a spokeswoman for Shapiro’s office, declined to give specific numbers but said the office did see a rise in consumer complaints about alleged identity theft after the breach. “For some, their identity was stolen,” he said at a press conference, not providing specifics about the cases or the number of stolen identities. However, Pennsylvania Attorney General Josh Shapiro, who co-led the probe by state attorneys general into the incident, said individual consumers were harmed. Because of that, Begor anticipated the company wouldn’t have to pay the extra $125 million to the fund. “It reflects, from our perspective, the seriousness in which we took this matter.”Įquifax denied any wrongdoing in the breach as part of the settlement.Įquifax, the CEO said, has not seen instances of stolen data being used for identity theft and has not found hacked personal data for sale on the so-called dark web since the September 2017 breach. Mark Begor, the company’s CEO, said at a Monday press conference that the total payout was “by far, the largest ever” for a data-breach case. “Getting reimbursed for documented losses tied to the breach could prove difficult, however.
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