Here’s everything you need to know to protect yourself from the Equifax Hack.
Last Thursday, millions of Americans woke up to the news that credit reporting agency Equifax had been a target of a massive cyber attack from mid-May through July. Now, Americans are worried and anxious.
It goes without saying that nobody wants to wake up being at risk for identity theft. If you are concerned that this might happen to you, keep on reading.
Fortunately, there are ways to go through this. First of all, it is important to learn everything you can about the Equifax. So, what exactly is Equifax?
Here’s a report from Jeremy Quittner. Quittner is the financial writer for Stash.
Equifax is one of three credit reporting agencies, or bureaus. The others are Experian and Transunion. Credit reporting agencies collect data on consumers related to all aspects of their financial lives, including bank and credit card account information, mortgages, and bankruptcies. They file this information in something called a credit report.
Furthermore, Quittner’s article continues:
Equifax said cybercriminals gained access to its network by exploiting a website vulnerability, making off with the personal information for 143 million U.S. consumers ( nearly half the country’s population). That information included names, addresses, social security numbers, birth dates, and in some cases driver’s license numbers.
Finally, Quittners gave a few advice on how you can protect yourself from this Equifax Hack. In his report, he wrote about a few things you can do to get extra protection. Here are some examples:
Credit monitoring.
Equifax says it will provide one free year of credit monitoring services, which consumers can sign up for online. It requires entering the last six digits of your social security number and last name. If you sign up, you’re agreeing to arbitration related to the use of Equifax’s credit monitoring service, but not for the hack attack itself, the company says.
Consider freezing your credit.
This is a security measure that will make it more difficult for cybercriminals to open a new line of credit in your name. You can find out more about that here.
Change passwords for all online accounts, and regularly update them.
This can include email, as well as financial accounts. Use two-factor authentication when possible. Various online services exist to help you secure your accounts. LastPass is one example. There are many others. Just because it is so important, we will say this again: If any websites you use offer two-factor, turn it on.
Report it.
If you become the victim of identity theft, report it to your local police department. Also file a report with the Federal Trade Commission, which can help you create an identity theft recovery plan. You can do that here.
Check your credit report for irregularities.
You’re entitled to a free copy every year from each of the three credit reporting agencies.
Contact your local DMV if you believe your driver’s license number was stolen.
Contact the Social Security Administration if you believe someone has obtained, or is fraudulently using your social security number.
Source: Jeremy Quittner, September 8, 2017, Stash