Equifax to pay a massive fine of around $650 million following to the 2017 data breach that exposes 145 million customers record. The exposed data includes names, addresses, driver license numbers, and Social Security numbers.
The company is expected to pay around $650 million to settle for Federal, state investigations and customer claims that associated with the data breach.
Equifax data breach happened in September 2017, hackers exploited a known vulnerability to harvest the customer’s data from Equifax servers.
According to the NYTimes report, “Equifax said it had set aside $690 million to cover the anticipated legal costs of the hacking. It has also spent hundreds of millions of dollars on improving its technology systems and on free credit report monitoring services.”