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Equifax agrees to pay $700M to settle U.S. breach probe

The agreement is the largest data-security settlement by the FTC and resolves a nearly two-year investigation into the massive breach.

By David McLaughlin and Daniel Stoller | July 22, 2019 at 12:09 PM
Hackers stole at least 147 million names and dates of birth, nearly 146 million Social Security numbers, and 209,000 payment card numbers and expiration dates from Equifax in the 2017 data breach. (Photo: Mike Stewart/AP) Hackers stole at least 147 million names and dates of birth, nearly 146 million Social Security numbers, and 209,000 payment card numbers and expiration dates from Equifax in the 2017 data breach. (Photo: Mike Stewart/AP)

Equifax Inc. agreed to pay up to $700 million to resolve U.S. federal and state investigations into the 2017 hack that compromised some of the most sensitive information of more than 140 million people.

“Companies that profit from personal information have an extra responsibility to protect and secure that data,” FTC Chairman Joe Simons said in a statement. “Equifax failed to take basic steps that may have prevented the breach.“

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