![]() Hackers are not an “act of god” equivalent to an earthquake or tornado. If it had done everything right, the breach never would have happened in the first place. It grates to have Equifax-whose negligence resulted in information about 147 million Americans being exposed to criminals-pretending that it did nothing wrong. But apparently, once such an apology has been published (and the CEO who made it has been sent packing along with the chief information officer and chief information security officer), the company can negotiate a different reality.Įquifax denies any wrongdoing, and no judgment or finding of wrongdoing has been made. Denial Isn’t Just a River in Egyptīack in 2017, Equifax’s then-CEO, Richard Smith, apologized in an op-ed in USA Today. That may be the reality of the situation, but it leaves a bad taste in the mouth for a variety of reasons. ![]() The FTC also updated the FAQ in its informational page about the settlement to clarify the payment caps and the likelihood that you’d get much less than was promised. Within a few days, Robert Schoshinski, Assistant Director in the Division of Privacy and Identity Protection at the FTC, was bluntly encouraging everyone to take the free credit monitoring instead of the payments because millions of people had already signed up for the cash. In both cases, if the claims exceed the cap, all payments will be reduced on a prorated basis. It turns out that the actual settlement caps the $125 alternative reimbursement payments at $31 million, and it caps the claims for lost time at another $31 million. Sounds good, right? Finally, the people who are actually harmed in a data breach are recompensed for their trouble! People responded, with millions signing up for their cash payments: $125 if you already had credit monitoring and $25 per hour for up to 20 hours that you spent dealing with the breach, plus coverage of your out-of-pocket losses up to $20,000. Unsurprisingly, this was big news, and we in the media responded by publicizing the heck out of it (see “ You May Be Entitled to $125 or More in the Equifax Breach Settlement,” 26 July 2019). The FTC said the settlement included up to $425 million to help those affected by the breach. In this case, victims could opt for a cash payment of up to $125 instead of credit monitoring and could apply for additional financial restitution for time wasted dealing with Equifax’s negligence. This settlement was different from some previous ones, where the main benefit to victims-if there was any at all-was free credit monitoring. ![]() Last month, the Federal Trade Commission, in conjunction with the Consumer Financial Protection Board and all 50 US states, announced a settlement of up to $700 million with Equifax over that company’s 2017 data breach exposing personal information on 147 million Americans. 1675: Apple “Wonderlust” event, OS security updates, Apple CSAM pullback, Mozilla car privacy report, iPhone weather apps, bike tour iPhone photos, do you use the iPhone 14 Pro Always-On display?.1676: OS dates, iPhone 15 lineup, Apple Watch Series 9 & Ultra 2, USB-C AirPods Pro, USB-C cable advice, more from Wonderlust.1677: iOS 17.0.2 for iPhone 15, OS security updates, new AirPods features, restore Slack sidebar, Orion HDMI display app, Apple carbon neutrality reactions.1678: macOS 14 Sonoma available, two portable laptop stands, iPhone Always-On display poll results, which Web browsers do you use?.#1679: iOS 17’s Check In, iOS 17.03 addresses overheating, Mac browser popularity, Arc adds AI features, do you use Finder tags?.
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