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I deeply regret this incident up to seven hundred million dollars that's how much credit reporting company Equifax will have to pay for the massive data breach back in two thousand seventeen authorities announced a record settlement on Monday which will end multiple federal probes most state attorneys general enquiries and pending class action lawsuits one hundred forty seven million consumers had their personal data exposed including all important social security numbers in one of the largest breaches ever that type of data theft can have repercussions for consumers for years to come as some critics point out the total price tag for the settlement only works out to just under five dollars per person hardly a high price to pay for the breach of a company that's responsible for collecting and storing the most personal or financial data as part of the settlement three hundred million dollars will go to a restitution fund for consumers harmed by the breach that number could rise depending on the number of claims for its part Equifax's agreed to bolster security as well as make it easier for consumers to freeze credit or dispute information contained in their credit reports affected consumers can have ten years of free credit monitoring services from Equifax the hackers behind the breach have never been identified