Financial Protection

Victims of 2017 Equifax data breach receive update emails about payments

Victims who filed claims after Equifax’s massive 2017 data breach have been receiving emails this week and last week from the data breach’s settlement administrator.

Darwin Laganzon | Pixabay.com

According to Fast Company, victims of Equifax’s massive 2017 data breach, which put nearly 148 million U.S. consumers at risk of identity theft for the rest of their lives, have been receiving emails this week and last week from the data breach’s settlement administrator. 

The emails are notifying people who filed claims of their eligibility and payment options. According to the Federal Trade Commission (FTC) legitimate emails about the settlement will come from Equifax Breach Settlement Administrator <[email protected]>.

The settlement gave victims of the data breach the option of receiving free credit monitoring services or an “Alternative Reimbursement Compensation” for up to $125, depending on how many people applied for the cash option. The settlement also allowed victims of the data breach to file claims for out-of-pocket losses or time spent related to the breach. The Initial Claims Period ended 1/22/2020. 

However, people who suffered losses related to the breach after 1/22/2020 can still file claims during the Extended Claims Period, which ends 1/22/2024. 

By exposing sensitive personal information, including Social Security numbers and birthdates, Equifax put consumers at risk of identity theft for the rest of their lives. The best way to protect yourself from such theft is by placing credit freezes with all three national credit bureaus. 

As a reminder, the settlement for the worst data breach in history was not nearly strong enough to make Equifax take its job seriously. In fact, just this year Equifax sent to lenders millions of incorrect credit scores for consumers applying for auto loans, mortgages and credit cards. 

That’s why we have renewed our calls for overhauling the entire credit reporting system

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