Up to $700 million dollars.
That's how much credit reporting company Equifax will have to pay for the massive data breach back in 2017.
Authorities announced the record settlement on Monday, which will end multiple federal probes, most state attorneys general inquiries and pending class-action lawsuits.
147 million consumers had their personal data exposed including all-important social security numbers in one of the largest breaches ever. That type of data theft can have repercussions for consumers for years to come.
As some critics point out, the total price tag for the settlement only works out to just under $5 per person...hardly a high price to pay for the breach of a company that's responsible for collecting and storing the most personal of financial data.
As part of the settlement: $300 million will go to a restitution fund for consumers harmed by the breach. That number could RISE depending on the number of claims.
For its part, Equifax has agreed to bolster security, as well as make it easier for consumers to freeze credit or dispute information contained in their credit reports. Affected consumers can have 10 years of free credit monitoring services from Equifax.
The hackers behind the breach have never been identified.