March 2, 2018 / 2:59 PM / 8 months ago

Equifax expects net $200 mln in breach-related costs in 2018

NEW YORK, March 2 (Reuters) - Equifax Inc said on Friday it expects $275 million in costs in 2018 related to the credit reporting company’s massive data breach last year, offset by $75 million in insurance proceeds.

The costs mainly reflect technology and data security upgrades, legal fees, and the offering of free identity theft protection and credit monitoring services to the more than 147 million consumers who were affected by the cybersecurity incident. (Reporting by John McCrank Editing by Chizu Nomiyama)

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