Sat. May 30th, 2020

Equifax will pay $125 to victims of data breaches

2 min read

Earlier this week, the US credit reporting agency Equifax and the Federal Trade Commission (FTC) reached a compensation plan for a large-scale data breach in 2017. The incident caused the social security numbers and other sensitive data of hundreds of millions of Americans to be leaked. As part of the class action, the victims can finally file a claim with them. It is reported that Equifax has reached a $700 million settlement agreement, which includes 380.5 million customer compensation.

FTC announced the link to the claim website as soon as possible, and people in question can go up and search for whether they have been affected by this data breach and apply for specific compensation. It is reported that the site is not operated by Equifax, but is handed over to the JND commissioned by the settlement agreement, which has experience in handling such large-scale class actions and corporate bankruptcy cases.

The victim simply fills out a simple form and then specifies the amount of compensation that he or she believes should be available. Details can be found on the website.

For certification purposes, you will need to enter the last six digits of the last name and social security number. If it is really affected by the event, the website will pop up a simple reminder, the record indicates that your personal information is affected by this event.

After jumping back to the home page, the victim can formally file a claim. The entire process is very simple and easy for everyone to do online, but JND also supports printing and mailing, or downloading forms on behalf of minors.

The form asks for some simple personal information, such as where you live and where you are born. The compensation plan can be purchased with a cheque of $125, a prepaid card, or free three-bureau credit monitoring.

To get the money, you need to have credit monitoring and wait six months after filing a claim. You can immediately register for free services from partners such as Credit Karma and TransUnion.

The final victim can get a copy of the claim number saved to the computer in PDF format, and the form will ask for an email address.

Source: theverge