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Equifax data breach settlement illustrates need for security basics
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Cybersecurity, Regulatory Updates
Monday, July 22, 2019
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The Federal Trade Commission, Consumer Financial Protection Bureau and the Maryland Attorney General announced that Equifax agreed to pay up to $700 million as part of a global settlement with the federal regulators and all 50 states, which alleged that the credit reporting company’s failure to take reasonable steps to secure its network led to a data breach that affected 147 million people. In addition to the announcement of the settlement, the FTC published a blog post regarding the lessons businesses can learn from Equifax’s breach. Read on for more details.
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