FTC slaps Equifax with a fine of up to $700M for 2017 data breach
Credit agency Equifax will pay up to $700 million in fines as part of a settlement with federal authorities over a data breach in 2017. The Federal Trade Commission said in a statement Monday that Equifax has agreed to initially pay at least $575 million in fines as part of the settlement with the federal government and states over its "failure to take reasonable steps to secure its network" that led to the breach. Hackers stole credit files on 147 millions Americans, but also British and Canadian nationals, including Social Security numbers, dates of birth and thousands of payment card records in the May 2017 breach.