Equifax has Spent over $160 Million Related to its 2017 Data Breach and Identity Theft Protection

In recently filed disclosures, Equifax indicated it has spent $163.1 million related to the 2017 data breach that exposed personal data of U.S. consumers leading to an increased risk of identity theft, including those living here in Las Vegas and Henderson. This figure includes legal and remediation costs, along with over $50 million to offer free credit monitoring and identity theft services to U.S. consumers.
 
Equifax further disclosed that it expects to incur significant costs in the future, including legal expenses, investments in IT, and regulatory costs. The costs to Equifax concerning the data breach and related identity theft issues will likely exceed those incurred during other data breaches in the past.
 
Source: https://www.jdsupra.com/legalnews/equifax-breach-costs-stack-up-13723/