Your full name and mailing address, as well as your email address or telephone number.Customer Data Security Breach Litigation, case number: 16-md-02752-LHK The name and case number of the lawsuit: In re: Yahoo! Inc.Your letter also must include the following: As with option 1, you have until Jto file a claim. As with option 1, to file a claim, you'll need to provide personal details, including your home address and contact information, as well as your Yahoo account info.Īdditionally, you'll need to provide the name of the credit monitoring service you're using, when you started using it and how long you expect to keep it in place. To claim this cash payment benefit, you'll need to fill out a claim form for basic account holders and select Option 2 (Alternative Compensation). If just a third of these people file a claim, the payout is only $1.84 per person. However, that possibility doesn't seem likely, considering there are 194 million potential class members. If there are remaining funds after all the claims are paid, the alternative compensation claim amount could increase to $358.80. So this cash payment option attempts to provide some relief if you fall into that camp. "Everybody probably has free credit monitoring at this point," Steinberg says, adding that companies keep giving credit monitoring out after data breaches. According to the settlement, the amount of the cash payment paid depends on how many people file for the benefit, similar to what happened last year with the Equifax settlement. You might already be using a site that offers credit monitoring, and if that's the case, you can file a "Alternative Compensation Claim" of up to $100. You need to file a claim before Jto get the credit monitoring. To file a claim, you'll need to provide personal details, including your home address and contact information, as well as your Yahoo account info. To claim this benefit, you'll need to fill out a claim form for basic account holders and select the Option 1 (Credit Monitoring Services). "You can have all the credit monitoring services in the world, and if someone takes your ID and uses it for something non-financial, or uses it to break into your account, or to access your medical records or personal pictures, then it doesn't matter if you have credit monitoring," cyber-security expert Joseph Steinberg tells CNBC Make It.Īnd while Steinberg says this is a "grossly inadequate" service to protect people after a data breach, if you don't already have this layer of protection set up, then "you may as well get it," he says. It's worth noting that while this service is more robust than many of the free credit monitoring services such as Credit Karma, Credit Sesame and Mint, it can't prevent identity theft or credit card fraud, nor does it prevent scam emails or phone calls. This service provides assistance for those who actually experience identity theft or fraud, everything from canceling and replacing credit and debit cards to recovering financial losses. This can include normal updates, such as a change to your address when you move, to potentially fraudulent activity, such as someone opening up a credit card in your name.Ĭonsumers affected by the Yahoo breach will have the opportunity to receive at least two years of credit-monitoring services through AllClear ID, which not only keeps an eye on your credit file at Experian, Equifax and TransUnion, but also provides up to $1 million in identity theft insurance and identity restoration services. Credit monitoring is a service that alerts you when there are any changes to your personal information or new credit inquiries.
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