Equifax probably owes you $125

[labbe5]

https://thenextweb.com/security/2019/07 ... o-collect/

Fast forward to present day and Equifax is finally facing the music. TNW’s Ravie Lackshmanan reports Equifax will pay:

$300 million to cover free credit monitoring services for impacted consumers. The company may need to cough up an additional $125 million if the original fine amount isn’t enough to compensate all consumers who make claims.
$175 million, to be split up among the 50 attorneys general who filed suit, representing 48 states, Washington DC, and Puerto Rico
$100 million in civil penalties to the Consumer Financial Protection Bureau (CFPB)

Considering Equifax nets that in about a year, it seems like the FTC is letting it off lightly. But today isn’t a day for passing judgment or castigating companies for profiting off our data with almost no regard for our privacy.

It’s a day for getting paid.

Here’s how you can get your chunk of that settlement dough:

Navigate to this site : https://eligibility.equifaxbreachsettle ... ligibility
Enter your last name and the last six digits of your social security number
Fill out the claim information.

Enjoy a good bottle of wine! But it's a shame the amount is so low for such a big company.

Further reading :
Equifax Settlement Won’t be Enough to Deter Future Breaches: The Law Must Catch Up
The Equifax settlement is a good effort, especially considering the hurdles that the lawyers and the agencies faced in trying to hold Equifax accountable. But the data breaches continue unabated, with one affecting Capital One revealed just yesterday.
Going forward, we need to eliminate those hurdles or mass data breaches are going to continue unabated. Anyone who hasn’t been a victim of a data breach so far needs to join with those who have—because without a serious change in course, we’ll all be victims sooner or later.
https://www.eff.org/deeplinks/2019/07/e ... must-catch
You won’t see that $125 from Equifax, so don’t bother claiming it, says FTC
The credit monitoring is the more valuable option anyway : If you haven’t submitted your claim yet, think about opting for the free credit monitoring instead. Frankly, the free credit monitoring is worth a lot more – the market value would be hundreds of dollars a year. And this monitoring service is probably stronger and more helpful than any you may have already, because it monitors your credit report at all three nationwide credit reporting agencies, and it comes with up to $1 million in identity theft insurance and individualized identity restoration services.
https://techcrunch.com/2019/07/31/you-w ... -says-ftc/

[rufwoof]

Considering Equifax nets that in about a year, it seems like the FTC is letting it off lightly. But today isn’t a day for passing judgment or castigating companies for profiting off our data with almost no regard for our privacy

Nowadays most don't seem concerned about privacy, so perhaps reflective of that general attitude. I am reminded however about ...

Arguing that you don't care about the right to privacy because you have nothing to hide is no different from saying you don't care about free speech because you have nothing to say. - Edward Snowden

[Flash]

I read that if everyone who is eligible got a fair share of the money that's been set aside for the purpose, each person would get just a few dollars. Hardly worth the trouble. Plus, you'd have to give Equifax your personal information.

Way back in the 1980s, GM lost a class action lawsuit relating to their diesel engined pickups and cars. Their settlement was to offer anyone who had one of those cars a thousand dollars off the price of a new GM car or truck. Making lemonade out of lemons.

[Makoto]

I noticed that the homepage seems to indicate you can only get the $125 IF you already have some form of credit-monitoring service:

1. Free Credit Monitoring or $125 Cash Payment. You can get free credit monitoring services. Or, if you already have credit monitoring services, you can request a $125 cash payment.

* At least 4 years of three-bureau credit monitoring, offered through Experian. You can also get up to 6 more years of free one-bureau credit monitoring through Equifax.
* If you already have credit monitoring services that will continue for at least 6 more months, you may be eligible for a cash payment of $125.

(I'm not sure if the page has been updated in regard to the settlement, though. "Please note that none of these benefits will be distributed or available until the settlement is finally approved by the Court.")

[greengeek]

If i enter a claim number and my last name the website indicates that I am impacted (and therefore open to compensation).

Seems strange since I am non-American.

Seems like an identity-sucking scam to me.

But on the other hand - it says I have until 01/22/2020 to complain and receive a payout. Seems to be opening a pretty wide portal for individuals to be part of a "major payout" in return for supply of personal details.

Seems like a "who is in" versus "who is out" kind of claim to me. - Part of the modern "gated community" drive.

There must be an ulterior motive. Smoke and mirrors aplenty. Very much like the baby-identity theft shit that went down in New Zealand.

Here is an example of the actual harm and modus operandi:

[version2013]

If i enter a claim number and my last name the website indicates that I am impacted (and therefore open to compensation).

Seems strange since I am non-American.

Claim number?
The website [1] states "Last 6 Digits of Social Security Number"

[1] https://eligibility.equifaxbreachsettle ... ligibility

[greengeek]

Claim number?
The website [1] states "Last 6 Digits of Social Security Number"

Yeah - i just tried some random numbers and names from my family and they all seemed to be "valid". One too many glasses of wine.

[Flash]

Equifax on the hot seat for running out of data breach settlement funds

Andy Meek @aemeek
August 2nd, 2019

Even when making restitution to victims of its massive 2017 data breach, Equifax still can’t seem to avoid a mess. The credit reporting agency is now attracting a ton of scrutiny after the Federal Trade Commission revealed in an urgent announcement to the public that the pool of Equifax settlement funds used to pay cash claims to victims is quickly running dry. And that victims who step up to file a claim going forward should probably just go ahead and pick a non-cash alternative.
You may be reading that and thinking — wait, didn’t Equifax agree to a $700 million settlement with the FTC because of the breach of Equifax servers that saw hackers extract more than 200,000 payment card numbers and expiration dates? Well, yes, that’s correct. Moreover, up to this point, payments to victims of up to $125 had been touted as part of the settlement, along with an alternate offer of free credit monitoring. But, unfortunately, the part of the overall settlement comprised of a pool of money that will be used to make the direct cash payments to victims is only $31 million....