In September 2017, Equifax, one of the largest credit reporting agencies in the United States, suffered a massive data breach that affected the personal information of 147 million people. This breach exposed sensitive data, including Social Security numbers, birthdates, addresses, and, in some cases, driver’s license numbers. In response, Equifax reached a settlement of up to $425 million, providing compensation and identity recovery services to those impacted.
The settlement, finalized in 2020, involved the Federal Trade Commission (FTC), the Consumer Financial Protection Bureau (CFPB), and 50 U.S. states and territories. While the deadline to file for compensation claims passed in January 2023, individuals can still benefit from free identity recovery services until January 2029.
Is Your Equifax Settlement Email Legitimate?
If you’ve received an email about additional compensation from the Equifax data breach settlement, it is essential to verify its authenticity. Below are steps to help you identify legitimate communications and ensure you’re not falling victim to a scam.
The Equifax Settlement: Key Information
In 2017, Equifax disclosed a data breach that compromised the personal information of millions of U.S. residents. In response, the company reached a settlement agreement that included a financial compensation plan as well as identity theft recovery services. The settlement, worth up to $425 million, was organized by the FTC, CFPB, and all 50 U.S. states.
Settlement Timeline
Here’s a summary of the key milestones in the Equifax settlement:
| Date | Event |
|---|---|
| September 2017 | Equifax announces the data breach affecting 147 million individuals. |
| 2019 | A class action lawsuit is filed, leading to a settlement agreement. |
| 2020 | Settlement is finalized, offering compensation and identity recovery services. |
| January 2023 | The deadline to file compensation claims passes. |
| December 9, 2024 | Expected date for distribution of additional settlement payments via prepaid cards. |
What to Expect From the Settlement
If you were affected by the breach and opted into the class action, you may receive compensation. The settlement includes two major components:
- Payment: You will likely receive an electronic prepaid card, which is expected to arrive in December 2024. The exact amount on the card will depend on various factors such as the number of claims filed.
- Identity Theft Recovery Assistance: Even if you didn’t file a claim, you can still access free identity theft recovery services until January 2029. These services are available to anyone impacted by the breach, and you can check your eligibility through an online lookup tool.
How to Activate Your Pre-Paid Card
When you receive your prepaid card, follow these steps to activate it:
- Redeem the Card: Visit www.myprepaidcenter.com/redeem to redeem your card.
- Customer Support: If you encounter any issues or need assistance, contact the card provider at 1-833-678-6289.
- Avoid Inactivity Fees: Although the card doesn’t expire, inactivity fees may apply after six months of no use. Be sure to use the card within that timeframe.
How to Verify the Legitimacy of the Email
While the Equifax settlement emails are legitimate, it’s always best to double-check before acting on them. Here’s how to verify:
- Sender’s Address: Legitimate emails will come from distribution@equifaxbreachsettlement.com or info@equifaxbreachsettlement.com. Any email from a different address should be treated with caution.
- Personalized Greeting: Emails from Equifax will address you by your full name. Be wary of emails with generic greetings like “Dear Customer,” which may indicate a phishing attempt.
- Official Website: Instead of clicking links in the email, type the official Equifax Data Breach Settlement website into your browser to verify your claim status.
What You Need to Know About Scam Emails
Scammers often impersonate official organizations, so it’s crucial to stay vigilant. Some warning signs of scam emails include:
- Generic greetings (e.g., “Dear Customer”).
- Unfamiliar sender addresses not related to the official settlement process.
- Suspicious links or urgent requests for personal information.
To protect yourself, always verify such communications through trusted sources.
Conclusion
If you’ve received an email about the Equifax data breach settlement, it’s likely legitimate, as long as it’s from one of the confirmed email addresses and uses your full name. However, always verify the details directly through the Equifax Data Breach Settlement website to ensure you’re taking the correct next steps.
Although the claim filing deadline has passed, you can still access free identity theft recovery services until 2029, offering vital protection if your personal information was compromised.
For further peace of mind, always take the extra step of verifying emails and contacting trusted sources directly before clicking any links.
