In 2017, Equifax experienced a massive data breach affecting 147 million individuals, compromising sensitive data such as Social Security numbers and addresses. To address this breach, Equifax reached a settlement of up to $425 million to provide compensation and identity recovery services to those impacted.
The settlement, finalized in 2020, was organized by the FTC, CFPB, and 50 U.S. states and territories. The deadline to file a compensation claim was January 2023, but free identity recovery services are available until January 2029.
If you have received an email about additional compensation, it is likely legitimate. However, it’s essential to verify the sender’s details to ensure it is not a scam. This guide provides the necessary steps to confirm the email’s authenticity and understand your next actions.
Equifax Data Breach Settlement Approved
In September 2017, Equifax, one of the largest credit reporting agencies in the United States, disclosed a massive data breach that compromised the personal information of 147 million people. The breach exposed sensitive data, including names, Social Security numbers, birth dates, addresses, and in some cases, driver’s license numbers.
As a result, Equifax reached a global settlement agreement with the Federal Trade Commission (FTC), the Consumer Financial Protection Bureau (CFPB), and 50 U.S. states and territories. This settlement includes up to $425 million in compensation and assistance for individuals affected by the breach.
The Legitimacy of the Email
If you received an email claiming that you are eligible for an additional payment due to the Equifax settlement, here’s why you can trust it:
Personalized Greeting: The email will address you by your full name, which is a key indicator that the message is genuine. Scammers typically use generic greetings such as “Dear Customer.”
Sender Information: Legitimate emails regarding the Equifax settlement will come from one of two possible addresses:
distribution@equifaxbreachsettlement.com
info@equifaxbreachsettlement.com
Be cautious of emails coming from any other email address. If the sender is unfamiliar, it’s a red flag that the email might not be legitimate.
Prepaid Card: The email will inform you that the settlement payment will arrive in the form of an electronic prepaid card during the week of December 9. This is consistent with the terms outlined in the settlement.
Timeline of the Settlement Process
Here’s a quick breakdown of the major events and deadlines surrounding the Equifax data breach settlement:
Date
Event
September 2017
Equifax announces the data breach affecting 147 million people.
2019
A class action lawsuit is filed, leading to a settlement agreement.
2020
The settlement is finalized, including provisions for compensation and identity theft assistance.
January 2023
The deadline to file claims for compensation passed.
December 9, 2024
Expected date for the distribution of additional settlement payments via electronic prepaid cards.
What Can You Expect in the Settlement?
If you are among those who opted into the class action lawsuit, you are eligible to receive compensation. The settlement includes two key benefits for individuals affected by the data breach:
Payment
You are likely to receive an electronic prepaid card, which will be sent during the week of December 9, 2024. The exact amount of the payment varies and will depend on several factors, such as the number of claims filed and the specifics of the settlement agreement.
Identity Theft Recovery Assistance
Even if you didn’t file a claim, you are still eligible for free identity theft recovery services until January 2029. These services are available to those who were affected by the breach, and you can confirm your eligibility through an online lookup tool. If misuse of your personal information is discovered, you can access identity restoration services for free.
Activate Pre-Paid Card
Once you receive your pre-paid card, you can redeem it through the card servicer. Follow these steps to activate your card:
Redeem Your Card: You may redeem your pre-paid card through the card servicer at the following link: www.myprepaidcenter.com/redeem.
Customer Support: If you have any questions regarding the redemption process or encounter any issues, you may contact the card servicer directly at 1-833-678-6289.
Inactivity Fees: It’s important to note that while the pre-paid cards do not expire, after six months of inactivity, there may be associated inactivity fees. To avoid these charges, make sure to use your card within this timeframe.
How to Verify the Email
While the email is legitimate, it’s always wise to verify its authenticity further. Here’s how you can do that:
Check the Sender’s Address: Confirm that the email is coming from one of the official email addresses associated with the Equifax settlement: distribution@equifaxbreachsettlement.com or info@equifaxbreachsettlement.com.
Look for a Personalized Greeting: Legitimate emails will always use your full name. A generic greeting is a common sign of phishing.
Visit Official Websites: Instead of clicking links in the email, visit the Equifax Data Breach Settlement Website directly by typing the URL into your browser. You can check the status of your claim and other related information there.
If you have received an email about the Equifax data breach settlement, it is indeed legitimate, provided it comes from one of the confirmed email addresses and addresses you by your full name.
The email is part of the ongoing effort to compensate those affected by the breach, which has led to a global settlement of up to $425 million. Keep in mind that if you missed the claim filing deadline, you can still access free identity theft recovery services until 2029.
For further peace of mind, always verify any communication related to personal data with trusted sources directly, rather than clicking links in unsolicited emails