Equifax agrees $700m penalty over mass data breach
Credit reference agency Equifax has agreed to pay up to $700m (£560m) in a settlement with US regulators over a data breach in 2017.
The attack affected personal information including social security numbers, names, dates of birth, addresses, credit card numbers and driver’s licence numbers, impacting more than 147 million consumers.
Hackers exploited a vulnerability in a company database to access an unsecured file that contained admin details stored in plain text, giving them access to vast amounts of information and allowing them to operate undetected on Equifax’s network for months, regulators said.
The company has agreed a settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau (CFPB) and 50 US states and territories including New York state which alone saw 8.5 million residents’ personal information illegally accessed.
New York attorney general Letitia James said: “Equifax put profits over privacy and greed over people, and must be held accountable to the millions of people they put at risk…….read more
Source: Sky News