1 00:00:01,170 --> 00:00:04,370 covering the week's top tech dorks like 2 00:00:04,370 --> 00:00:04,380 covering the week's top tech dorks like 3 00:00:04,380 --> 00:00:07,220 covering the week's top tech dorks like Linux bias Equifax has finally agreed to 4 00:00:07,220 --> 00:00:07,230 Linux bias Equifax has finally agreed to 5 00:00:07,230 --> 00:00:08,839 Linux bias Equifax has finally agreed to pay compensation for the massive 6 00:00:08,839 --> 00:00:08,849 pay compensation for the massive 7 00:00:08,849 --> 00:00:11,839 pay compensation for the massive security breach at suffered in 2017 that 8 00:00:11,839 --> 00:00:11,849 security breach at suffered in 2017 that 9 00:00:11,849 --> 00:00:14,299 security breach at suffered in 2017 that led to the theft of at least 146 million 10 00:00:14,299 --> 00:00:14,309 led to the theft of at least 146 million 11 00:00:14,309 --> 00:00:16,730 led to the theft of at least 146 million people's personal info but before you 12 00:00:16,730 --> 00:00:16,740 people's personal info but before you 13 00:00:16,740 --> 00:00:18,439 people's personal info but before you get excited the money won't be going to 14 00:00:18,439 --> 00:00:18,449 get excited the money won't be going to 15 00:00:18,449 --> 00:00:21,019 get excited the money won't be going to you but rather to your bank which will 16 00:00:21,019 --> 00:00:21,029 you but rather to your bank which will 17 00:00:21,029 --> 00:00:22,490 you but rather to your bank which will be paid for the hassle of having to 18 00:00:22,490 --> 00:00:22,500 be paid for the hassle of having to 19 00:00:22,500 --> 00:00:24,920 be paid for the hassle of having to cancel your payment cards that's right 20 00:00:24,920 --> 00:00:24,930 cancel your payment cards that's right 21 00:00:24,930 --> 00:00:27,529 cancel your payment cards that's right the credit agency has agreed to pay 5.5 22 00:00:27,529 --> 00:00:27,539 the credit agency has agreed to pay 5.5 23 00:00:27,539 --> 00:00:29,390 the credit agency has agreed to pay 5.5 million to thousands of banks and credit 24 00:00:29,390 --> 00:00:29,400 million to thousands of banks and credit 25 00:00:29,400 --> 00:00:31,700 million to thousands of banks and credit unions who said they were injured by 26 00:00:31,700 --> 00:00:31,710 unions who said they were injured by 27 00:00:31,710 --> 00:00:33,379 unions who said they were injured by their customers details being siphoned 28 00:00:33,379 --> 00:00:33,389 their customers details being siphoned 29 00:00:33,389 --> 00:00:36,680 their customers details being siphoned off by hackers and a further 25 million 30 00:00:36,680 --> 00:00:36,690 off by hackers and a further 25 million 31 00:00:36,690 --> 00:00:38,149 off by hackers and a further 25 million to beef up data security 32 00:00:38,149 --> 00:00:38,159 to beef up data security 33 00:00:38,159 --> 00:00:40,700 to beef up data security Equifax will also cover the bank's 34 00:00:40,700 --> 00:00:40,710 Equifax will also cover the bank's 35 00:00:40,710 --> 00:00:42,680 Equifax will also cover the bank's administrative costs attorney fees and 36 00:00:42,680 --> 00:00:42,690 administrative costs attorney fees and 37 00:00:42,690 --> 00:00:45,919 administrative costs attorney fees and relevant expenses which raises the 38 00:00:45,919 --> 00:00:45,929 relevant expenses which raises the 39 00:00:45,929 --> 00:00:49,009 relevant expenses which raises the question what happened to the 125 that 40 00:00:49,009 --> 00:00:49,019 question what happened to the 125 that 41 00:00:49,019 --> 00:00:51,309 question what happened to the 125 that America's consumer watchdog the FTC 42 00:00:51,309 --> 00:00:51,319 America's consumer watchdog the FTC 43 00:00:51,319 --> 00:00:53,359 America's consumer watchdog the FTC proudly announced that we would get 44 00:00:53,359 --> 00:00:53,369 proudly announced that we would get 45 00:00:53,369 --> 00:00:55,430 proudly announced that we would get thanks to its record-breaking 700 46 00:00:55,430 --> 00:00:55,440 thanks to its record-breaking 700 47 00:00:55,440 --> 00:00:58,239 thanks to its record-breaking 700 million dollar settlement with Equifax 48 00:00:58,239 --> 00:00:58,249 million dollar settlement with Equifax 49 00:00:58,249 --> 00:01:00,799 million dollar settlement with Equifax it's been more than two and a half years 50 00:01:00,799 --> 00:01:00,809 it's been more than two and a half years 51 00:01:00,809 --> 00:01:02,840 it's been more than two and a half years since they were hacked and just under a 52 00:01:02,840 --> 00:01:02,850 since they were hacked and just under a 53 00:01:02,850 --> 00:01:05,149 since they were hacked and just under a year since the 700 million settlement 54 00:01:05,149 --> 00:01:05,159 year since the 700 million settlement 55 00:01:05,159 --> 00:01:07,670 year since the 700 million settlement was met so it's perhaps surprising that 56 00:01:07,670 --> 00:01:07,680 was met so it's perhaps surprising that 57 00:01:07,680 --> 00:01:09,440 was met so it's perhaps surprising that not a cent appears to be for the people 58 00:01:09,440 --> 00:01:09,450 not a cent appears to be for the people 59 00:01:09,450 --> 00:01:12,580 not a cent appears to be for the people directly impacted by the cyber break-in 60 00:01:12,580 --> 00:01:12,590 directly impacted by the cyber break-in 61 00:01:12,590 --> 00:01:17,510 directly impacted by the cyber break-in the 125 dollar headline fig figure it 62 00:01:17,510 --> 00:01:17,520 the 125 dollar headline fig figure it 63 00:01:17,520 --> 00:01:19,370 the 125 dollar headline fig figure it turns out was made with the assumption 64 00:01:19,370 --> 00:01:19,380 turns out was made with the assumption 65 00:01:19,380 --> 00:01:21,109 turns out was made with the assumption that only a very small percentage of 66 00:01:21,109 --> 00:01:21,119 that only a very small percentage of 67 00:01:21,119 --> 00:01:24,649 that only a very small percentage of those eligible would actually apply but 68 00:01:24,649 --> 00:01:24,659 those eligible would actually apply but 69 00:01:24,659 --> 00:01:26,330 those eligible would actually apply but thanks to the sheer size of the leak the 70 00:01:26,330 --> 00:01:26,340 thanks to the sheer size of the leak the 71 00:01:26,340 --> 00:01:28,099 thanks to the sheer size of the leak the issue was extensively covered in the 72 00:01:28,099 --> 00:01:28,109 issue was extensively covered in the 73 00:01:28,109 --> 00:01:30,349 issue was extensively covered in the press and that massively increased the 74 00:01:30,349 --> 00:01:30,359 press and that massively increased the 75 00:01:30,359 --> 00:01:31,849 press and that massively increased the number of people who applied for 76 00:01:31,849 --> 00:01:31,859 number of people who applied for 77 00:01:31,859 --> 00:01:34,940 number of people who applied for compensation this forced the FTC to 78 00:01:34,940 --> 00:01:34,950 compensation this forced the FTC to 79 00:01:34,950 --> 00:01:36,289 compensation this forced the FTC to admit that it hadn't agreed to a 80 00:01:36,289 --> 00:01:36,299 admit that it hadn't agreed to a 81 00:01:36,299 --> 00:01:39,289 admit that it hadn't agreed to a per-person fine but rather lump sum that 82 00:01:39,289 --> 00:01:39,299 per-person fine but rather lump sum that 83 00:01:39,299 --> 00:01:40,660 per-person fine but rather lump sum that would be split equally between 84 00:01:40,660 --> 00:01:40,670 would be split equally between 85 00:01:40,670 --> 00:01:45,169 would be split equally between applicants not only that but behind the 86 00:01:45,169 --> 00:01:45,179 applicants not only that but behind the 87 00:01:45,179 --> 00:01:47,569 applicants not only that but behind the 700 million headline figure was a 88 00:01:47,569 --> 00:01:47,579 700 million headline figure was a 89 00:01:47,579 --> 00:01:50,330 700 million headline figure was a different reality the FTC had agreed to 90 00:01:50,330 --> 00:01:50,340 different reality the FTC had agreed to 91 00:01:50,340 --> 00:01:52,730 different reality the FTC had agreed to just 31 million for the pot that was to 92 00:01:52,730 --> 00:01:52,740 just 31 million for the pot that was to 93 00:01:52,740 --> 00:01:54,679 just 31 million for the pot that was to be split equally among individual 94 00:01:54,679 --> 00:01:54,689 be split equally among individual 95 00:01:54,689 --> 00:01:57,200 be split equally among individual applicants the rest was earmarked for 96 00:01:57,200 --> 00:01:57,210 applicants the rest was earmarked for 97 00:01:57,210 --> 00:01:58,639 applicants the rest was earmarked for those who demonstrated they were left 98 00:01:58,639 --> 00:01:58,649 those who demonstrated they were left 99 00:01:58,649 --> 00:02:01,039 those who demonstrated they were left out of pocket by the hack mitigations 100 00:02:01,039 --> 00:02:01,049 out of pocket by the hack mitigations 101 00:02:01,049 --> 00:02:04,340 out of pocket by the hack mitigations money for states and so on so while 102 00:02:04,340 --> 00:02:04,350 money for states and so on so while 103 00:02:04,350 --> 00:02:06,529 money for states and so on so while Equifax settles with states and banks 104 00:02:06,529 --> 00:02:06,539 Equifax settles with states and banks 105 00:02:06,539 --> 00:02:07,819 Equifax settles with states and banks and hopefully those consumers who 106 00:02:07,819 --> 00:02:07,829 and hopefully those consumers who 107 00:02:07,829 --> 00:02:10,160 and hopefully those consumers who rejected the FTC's terrible deal it 108 00:02:10,160 --> 00:02:10,170 rejected the FTC's terrible deal it 109 00:02:10,170 --> 00:02:12,170 rejected the FTC's terrible deal it seems that no money will be forthcoming 110 00:02:12,170 --> 00:02:12,180 seems that no money will be forthcoming 111 00:02:12,180 --> 00:02:13,910 seems that no money will be forthcoming for those who have gone to the trouble 112 00:02:13,910 --> 00:02:13,920 for those who have gone to the trouble 113 00:02:13,920 --> 00:02:14,780 for those who have gone to the trouble of trying to get the 114 00:02:14,780 --> 00:02:14,790 of trying to get the 115 00:02:14,790 --> 00:02:18,680 of trying to get the 125 they were promised