01 · In plain English
What happened.
On 13 October 2023 the Financial Conduct Authority fined Equifax Limited £11,164,400 after finding failings linked to outsourcing data processing to an intragroup entity that experienced a data breach. The FCA’s Final Notice records risk‑management failings (breach of PRIN 3 — firms must organise and control their affairs effectively and have adequate risk management) and failures in treating customers fairly and in communicating information clearly after the breach. The FCA imposed the stated financial penalty; the Final Notice is published by the regulator.
Summarised from the FCA's notice and press reports. The FCA's own text and documents below are the authoritative record.
02 · Enforcement details
What the FCA published.
On 13 October 2023, the Financial Conduct Authority fined Equifax Limited £11,164,400. This Final Notice relates to the outsourcing of data processing to an intragroup entity which experienced a data breach. The Final Notice refers to risk management failings (PRIN 3) and failings in relation to treating customers fairly and communicating information in a way which is clear, fair and not misleading following a data breach. We imposed a financial penalty. Source: the FCA's published list of 2023 fines.
03 · Firm details
Firm on the FCA register.
- Firm name
- Equifax Limited
- Firm reference number
- 940655
- Register status
- Registered
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