Companies have been impacted by outside hackers more frequently than we would like. Notable breaches into Yahoo, Adobe, Target, Anthem Insurance, and the US Office of Personnel Management have resulted in our personal data being stolen. Identity theft is a nightmare. Thieves who pose as you open new credit accounts, file phony tax returns, buy cars, apply for loans – the list goes on and on. What options do you have in response to hacking?
- Credit monitoring gives you a heads up when ID theft does happen and helps you navigate the process of getting the credit bureaus and creditors to remove fraudulent activity and fix your credit score.
- Consider a security freeze. A security freeze blocks any creditors from accessing (“pulling”) your credit file. If someone with your identity attempts to open up an account with your information, a creditor accesses your overall health by accessing/viewing your credit file. When a freeze is placed on your account does not allow this activity. To freeze your account, you must contact the credit bureaus individually (Equifax, Experian, Innovis and Trans Union) online or by phone. There may be a fee associated with freezing your account ($0 – $15 per account).
- It is possible to “unfreeze” your account, when needed. If you are applying for new credit personally, it is important to contact the credit bureaus to unfreeze your account to allow the new creditor access to your credit worthiness. This process takes approximately 24 hours.
- Fraud alerts are similar to a credit freeze, yet are typically in effect for 90 days. Contact the credit bureaus to complete the process.
- You may want to consider opting out of pre-approved credit offers that come in the mail for either five years or permanently. To opt out for five years, call 1-888-567-8688 or visit optoutprescreen.com To opt out permanently, go to their website to begin the process.
The impact of the Equifax hack this week is broad, as the personal data files included social security numbers, driver’s license information and credit card numbers. This is serious. Even though they offer a service to monitor your credit, this is only for one year. The hackers have access forever to your social security number. Confidence is follow-up security is shaken – if a credit bureau did not protect data, who do we trust?
Take precautions and be alert. Check on your accounts from banking, taxes, credit cards to health care more frequently than ever! There is only one you – make sure it is you!
For anyone seeking protective strategies for your home or business, contact us. We proactively help you assess your situation in business and home and explore ways for you to protect what is important to you by asking questions. What is your risk? Your plan? Are you ready to be ready? Proactive preparation is our forte.
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