---
title: Is Equifax Paying Up To 700 Million... Or Is It 1.4 Billion?
description: Is Equifax Paying Up To 700 Million... Or Is It 1.4 Billion?
---

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# [Is Equifax Paying Up To 700 Million... Or Is It 1.4 Billion?](https://blog.knowbe4.com/is-equifax-paying-up-to-700-million...-or-is-it-1.4-billion)

 Written by [Stu Sjouwerman](https://blog.knowbe4.com/author/stu-sjouwerman) | Jul 23, 2019 11:26:05 AM

In a settlement with the FTC, consumers affected by the breach are eligible for up to $20,000 in a cash settlement, depending on damages they can prove. But different news sources claim wildly different numbers. One example is [DarkReading](https://www.darkreading.com/attacks-breaches/equifax-to-pay-up-to-$700mn-for-data-breach-damages/d/d-id/1335315), which said 700 Million, but [Law.com](https://www.law.com/legaltechnews/2019/07/22/equifax-reaches-1-4-billion-data-breach-settlement-in-consumer-class-action-397-22840) claims up to a whopping 1.4 Billion.

In 2017, Equifax had one of the largest data breaches in US history, and roughly 148 million records were compromised.

The FTC has [announced a settlement](https://www.ftc.gov/news-events/press-releases/2019/07/equifax-pay-575-million-part-settlement-ftc-cfpb-states-related) with Equifax that will result in the company paying a massive amount of money to the FTC, the Consumer Financial Protection Bureau (CFPB), and 50 US states and territories.

Probably, the variation in the total amount comes from a different interpretation over just how many consumers will take advantage of the [settlement's cash terms](https://www.ftc.gov/enforcement/cases-proceedings/refunds/equifax-data-breach-settlement).

In any case, these unfortunate data breaches are reminders that every organization needs to be using defense-in-depth as their North Star, and make sure they religiously patch their systems and step employees through new-school [security awareness training](https://www.knowbe4.com/products/enterprise-security-awareness-training/).

## Find out how affordable new-school security awareness training is for your organization. Get a quote now.

 

 

[View full post](https://blog.knowbe4.com/is-equifax-paying-up-to-700-million...-or-is-it-1.4-billion)

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