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Actually you're not getting that $125 from Equifax, warns the FTC

Jack Morse

Ya got played.

That's pretty much the message from the FTC, which is now warning victims of the 2017 Equifax data breach that the much-hyped $125 per person settlement payout is really just a mirage. You see, the company screwed over so many of you that there's not enough cash to go around.

"The public response to the settlement has been overwhelming," writes the FTC. "Because the total amount available for these alternative payments is $31million, each person who takes the money option is going to get a very small amount."

So just how much money, exactly, will victims of Equifax's stunning negligence receive? The FTC isn't sure, but it has a rough idea: "Nowhere near the $125 they could have gotten if there hadn’t been such an enormous number of claims filed." Read more...

Data Breach Equifax Tech Cybersecurity