Atlanta-based consumer credit reportingency Equifax is girding for expected costs related to its massive 2017 data breach which it expects to surge by US$275 million this year. Some observers are suggesting that the hack could turn out to be the biggest in corporate history.
The projection disclosed is on top of $164 million in pretax costs posted in the second half of 2017. That brings expected breach-related costs through the end of this year to $439 million only $125 million of which will be covered by insurance. Total costs of the breach which compromised sensitive data of more than 147 million consumers could be well over $600 million.
