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Yahoo users affected by data breaches that occurred between 2012 and 2016 can now submit claims under a $117.5 million settlement.
If you received a notice about the data breaches or if you had a Yahoo account anytime between Jan. 1, 2012, and Dec. 31, 2016, and are a resident of the U.S. or Israel, you may be entitled to credit monitoring services or cash compensation.
Read on to find out more as well as how to file a claim.
Want to know more?
If you are eligible for compensation, you have two options. You can either file a claim for two years of free credit monitoring or — if you verify that you already have a credit monitoring service that you plan to keep for at least a year — you can file for cash compensation.
If you opt for the cash compensation, keep in mind that payments will be distributed from a $117.5 million settlement pool. So the amount of the payment could be less than $100 or as high as $358, depending on how many class members file claims.
If you think you might be eligible for compensation for time and money spent because of the breach, you can find out more in the FAQ section of the settlement page.
If you are eligible, Yahoo has a site to file a claim. All claim forms must be submitted online or submitted by mail postmarked no later than July 20, 2020.
If you opt for the cash compensation, you’ll need to verify in your claim that you already have a credit monitoring service in place and that you plan to keep it for at least a year.
If you think you could qualify for additional compensation for out-of-pocket costs or time related to the breaches, you’ll want to think about gathering additional information and documentation before filing your claim.
If news about the Yahoo data breach settlement has you thinking about ways to keep your data secure, we’ve got some tips that could help you reduce your risk online.
1. Keep passwords secure. Try not to use the same password across many sites. If you use the same password for multiple accounts and one of them is exposed or compromised, that could leave your other accounts vulnerable. To help keep track of all your passwords, you might consider using a password manager.
2. Add multifactor authentication. For an added layer of security, think about putting two-factor authentication in place for any site or account that offers it. This will require you to first log in with your password. Then, for additional verification, enter a code usually sent to you via text or email.
3. Monitor your credit reports and consider a credit freeze. You can ask the three major consumer credit bureaus — Equifax, Experian and TransUnion — to freeze or lock your credit reports at any time. You can also get free credit monitoring if you’re a Credit Karma member. We’ll notify you if we notice important changes on your Equifax® or TransUnion® credit reports so you can check for suspicious activity.