Sunday, 5 December 2021

Equifax faces formal investigation by UK financial watchdog


LONDON: Equifax, the US credit reporting company at the heart of a cyber security scandal, faces a formal investigation by the UK financial watchdog after it admitted that nearly 700,000 UK customers may have had their personal details stolen.

The Financial Conduct Authority confirmed in a brief statement on Tuesday that it had opened a formal investigation into Equifax. Publicly revealing investigations is a rare move for the regulator, which said it was doing so because of the “public interest” in the case.

The Treasury select committee wrote to the FCA earlier this month to demand details about what it was doing over the cyber attack that Equifax first revealed in September.

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