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Financial Crime, UK

NEWS: UK watchdog fines Equifax $13.4 million for role in cyber breach

FILE PHOTO: Credit reporting company Equifax Inc. corporate offices are pictured in Atlanta, Georgia, U.S., September 8, 2017. REUTERS/Tami Chappell/File Photo

By Huw Jones

Britain’s financial watchdog said on Friday it had fined consumer credit rater Equifax Ltd 11 million pounds ($13.4 million) for its role in “one of the largest” cyber-security breaches in history.

The Financial Conduct Authority (FCA) said that in 2017 Equifax’s parent company, Equifax Inc in the United States, was subject to one of the biggest cybersecurity breaches in history, when the personal details of as many as 147.9 million U.S. consumers were accessed during the hack.

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