09/14/2017
Equifax Security Breach
WHAT HAPPENED?
Equifax confirms that the hackers obtained names, social security numbers, birth dates, addresses and some driverâs license numbers of approximately 143 million people.
WHAT DOES THIS INTRUSION AFFECT?
Equifax confirms that your credit score and credit history has not been affected or modified. Because this information is housed in a different system from the information that was hacked. At first it felt like the news was one more in an long string of massive data breaches that has included Yahoo, Google, Verizon, the IRS, the Department of Homeland Security, Anthem, Target, Neiman Marcus, JPMorgan Chase, Home Depot and too many others. Equifax itself has been breached four times in the last two years. But this breach looks to be a bit more severe than most of these others and it will have consequences in multiple areas and for a long time to come. Here's whyâŚ
Identity theft. Social security numbers, birth dates, addresses and in some instances, driver's license numbers were exposed in the breach in which criminals exploited a website application vulnerability to gain access to Equifax files. In addition, credit card numbers for about 209,000 U.S. consumers and certain dispute documents with personal identifying information for roughly 182,000 U.S. consumers were vulnerable. Equifax says the unauthorized access occurred from mid-May through July 2017.
New account opening. This breach heightens the risk of fraudulent account openings at a time when banks and fin- tech companies are increasingly allowing consumers to open new accounts on mobile devices in faster time frames â often in less than 10 minutes.
Authentication. This incident may call into question the industry's dependence on consumer data for authentication. In a way, this breach ties in nicely with the New York State Department of Financial Services' cybersecurity rules for banks, which require them to use multifactor authentication â the use of something besides a user name and password to grant people access to applications, be it a one-time passcode, a biometric, knowledge-based authentication or something else â or even stronger controls.
HOW DO YOU FIND OUT IF YOUR INFORMATION WAS HACKED
Equifax has established a website https://www.equifaxsecurity2017.com where you can input your name and information and Equifax will notify you immediately as to whether your information was impacted. There is some chatter on FB and other social medias that by checking on this from this site makes you agree to not be part of a class action law suit. Use your own due diligence. Note that I had to go in multiple times before I could enter all my information (if you have not entered your email and other information, you have not gone all the way through the process). The website is definitely over loaded right now. You can also call them at 866-447-7559 (expect a very long wait).
WHAT TO DO IF YOUR INFORMATION WAS IMPACTED
⢠Equifax is offering every affected consumer a credit monitoring service, free of charge for a year (see above). Follow the website prompts and you can activate the service. The call center at 866-447-7559 will be open 7 AM- 1:00 AM (ET) every day and Equifax personnel can answer your specific questions.
⢠Make sure that your passwords do not contain the information that may have been hacked (ex Birth date or part of Social Security number).
⢠Check your monthly bank and credit card statements and make sure all charges belong to you.
⢠Contact your credit monitoring service regularly and make sure that no one has opened up new accounts falsely in your name. There are services that will give you a monthly update on your credit as well as those that will immediately contact you should your credit report be pulled.
⢠Possibly put a freeze on your credit report. The Federal Trade Commission states: If youâre concerned about identity theft, those reported mega-data breaches, or someone gaining access to your credit report without your permission, you might consider placing a credit freeze on your report. https://www.consumer.ftc.gov/articles/0497-credit-freeze-faqs . The big thing to remember here is that your SS # and DOB could be out on the dark web for years to come and having a freeze is very inconvenient when you are purchasing anything in which your credit report needs to be pull but it will decrease your chances of identity theft.
Stay vigilant, review your monthly statements, and contact any credit provider or bank immediately with any questions or concerns. You owe it to yourself and your family that your credit and identity remains safe. We have first hand seen the life-altering affects of identity theft and unfortunately the system works in a manner that you are âproven guilty until you can prove innocentâ.
1) Updated information on U.S. website application vulnerability. Equifax has been intensely investigating the scope of the intrusion with the assistance of a leading, independent cybersecurity firm to determine what information was accessed and who has been impacted. We know that criminals exploite...
