Can you get a refund? What should you do? Keep up with the latest data breaches and learn what to do with our Data Breach Survival Guide
Recent data breaches involving the large credit bureau firm Equifax and Capital One bank have affected around 250 million people and made big news. But lost in the headlines is what it means for you, the consumer, and how you can protect yourself from data breaches in the first place.
It’s easy to see how the news of these data breaches could be confusing. The Equifax case alone has had many recent twists and turns. In late July the U.S. Federal Trade Commission reached a settlement with the company over its 2017 failure to protect the data of 147 million people. If you want more information about the settlement, go to ftc.gov/Equifax – scam websites have popped up spoofing the real thing.
But it turned out there isn’t enough money to pay each consumer the $125 initially indicated. “A large number of claims for cash... means only one thing: each person who takes the money option will wind up only getting a small amount of money. Nowhere near the $125 they could have gotten if there hadn’t been such an enormous number of claims filed,” the FTC said this week.
Some consumer advocates criticized the FTC for publicizing the potential $125 for consumers, then pulling back after a large response, The ..
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