EQUIFAX SAYS DATA BREACH WILL COST A LOT

Nov 10, 2017

By Michael Kramer

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A day after posting some hefty declines in profit – due to a massive data breach – Equifax says it expects to incur costs of between 60 million to 75 million dollars U-S in this quarter.

The Atlanta company reported a 27 per cent drop in third-quarter profit – due largely to a hack that exposed the personal information of 145 million customers.

Equifax Interim C-E-O Paulino do Rego Barros Jr. opened a conference call today by apologizing again for the breach – and telling listeners that executives will not be receiving bonuses.

The company also outlined ways in which it’s strengthening security – in hopes of keeping clients from leaving.

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