Equifax Breach

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  • September 10, 2017 at 1:43 pm #11835
    Anonymous
    Inactive

    What are members doing for their clients (and themselves) whose information was likely stolen in the Equifax breach?

    September 12, 2017 at 4:50 pm #12234
    Anonymous
    Inactive

    For myself I am freezing my credit, I am discussing it with each client. Several have been freezing their credit for years! I am suggestion that we do the free credit report for each of them.

    September 14, 2017 at 11:56 am #12236
    Lynne Edwards
    Spectator

    I agree, freezing one’s credit is a good idea unless your credit reports are accessed routinely for work or because you create new accounts on a regular basis.

    This article seems to be a comprehensive, succinct step by step to follow ourselves and share with clients:
    https://www.consumer.ftc.gov/blog/2017/09/equifax-data-breach-what-do

    And this one helps sort out the advantages/disadvantages for freezing your credit.
    https://www.nbcnews.com/business/consumer/one-move-make-after-equifax-breach-n1200276

    But freezing credit is a preemptive measure – and 143 million Americans (at least) are now exposed. I emailed all my clients about the data breach and invited them to contact me if they wanted to discuss. [Because Equifax now says that consumers can receive the free credit monitoring service without giving up their right to sue Equifax in the future, more clients are interested in the offer.]

    I am also encouraged clients to:

    1. Keep a close eye on all bank and credit card transactions
    2. Change all sensitive passwords AND add two factor authorization to accounts that offer it. (You will be texted or emailed with a code to enter when you try to log in to a site that has two factor authorization).

    Getting your free annual credit report from each agency would also be a good idea, but I’m not sure now is the best time to do that … crooks will be patient and the data they’ve got on at least 143 million Americans (SSNs, DOB, etc.) won’t expire. I might wait a month or two or three on that.

    Thanks for the great question; I’m curious to hear what others are doing.

    September 20, 2017 at 12:44 pm #12242
    Anonymous
    Inactive

    I’ve done pretty much the same as Roxanne; contacted my clients; checked to see if they’re at risk; advised they watch credit and bank accounts closely; strengthened passwords and authorizations; and written to freeze credit reporting. I’m also providing information on how to temporarily thaw the credit freeze if it proves necessary, but for my mostly senior clients, that’s unlikely.

    Where I disagree is about getting credit reports now. I’m advising that clients get one of their free annual credit reports now (not from Equifax, if possible), as a baseline, to make sure we know what’s in their records right now. It hasn’t been easy as the agencies are super busy right now, but I think in addition to giving my clients a snapshot of their current status, the fresh credit report reinforces in their minds the need for them (not just me) to pay attention to their account safety and internet security.

    My question is, should we also place a Fraud Alert on client’s files, if Equifax informs us their confidential information has likely been breached?

    Thanks,
    Beth

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