UK regulator launches probe into Equifax data breach

The UK financial watchdog has confirmed it is investigating Equifax's UK over the cyber breach that led to a massive loss of personal data by its US parent.

More than 15m British people's records were stolen in a major data hack on US-based Equifax, which was originally reported at half that amount last month before the company admitted the full toll, including "sensitive information" on nearly 700,000 individuals.

The Financial Conduct Authority said on Tuesday that it has launched an investigation into the "circumstances surrounding" the loss of UK customer data "held by Equifax Ltd on the servers of its US parent".

Nicky Morgan MP, Chair of Parliament's influential Treasury Committee, which had put pressure on the FCA to probe the incident, said: “Hundreds of thousands of people in the UK have been affected by the Equifax data breach. The FCA is right to investigate the circumstances surrounding it."

She added that the Committee will examine the issue further when it takes evidence from the FCA on 31 October.

Morgan has also written to Patricio Remon, Equifax's European president, asking for further details about the scale of the breach and what compensation it will provide.