Posts

Equifax Data Breach Protection Tips

,

How to Protect Yourself from the Equifax Data Breach

Equifax, one of the three major consumer credit reporting agencies disclosed that hackers compromised Social Security and driver’s license numbers as well as names, birthdates, addresses and some credit cards on more than 143 million Americans. If you have a credit profile, you were probably affected.

Credit reporting companies collect and sell vast troves of consumer data from your buying habits to your credit worthiness, making this quite possibly the most destructive data security breach in history. By hacking Equifax, the criminals were able to get all of your personally identifying information in a one-stop shop. This is the third major cybersecurity breach at Equifax since 2015, demonstrating that they continue to place profits over consumer protection. Ultimately, their negligence will erode their margins, their credibility and their position as one of the big three.

But that isn’t your concern – your concern is protecting yourself and your family from the abuse of that stolen information that will happen over the next 3 years.

Minimize Your Risk from the Equifax Data Breach

  1. Assume that your identity has been compromised. Don’t take a chance that you are one of the very few adult American’s that aren’t affected. It’s not time to panic, it’s time to act.
  2. If you want to see the spin that Equifax is putting on the story, visit their website. Here’s how the story usually develops: 1. They announce the breach and say that fraud hasn’t been detected 2. A few days later when you aren’t paying attention, they retract that statement because fraud is happening, 3. Sometime after that they admit that more people, more identity and more fraud took place than originally thought. They encourage you to sign up for their free monitoring (which you should do), but it does nothing to actually prevent identity theft, it just might help you catch it when it happens.
  3. I recommend placing a verbal password on all of your bank accounts and credit cards so that criminals can’t use the information they have from the breach to socially engineer their way into your accounts. Call your banks and credit card companies and request a “call-in” password be placed on your account.
  4. Begin monitoring your bank, credit card and credit accounts on a regular basis. Consider watching this video and then setting up account alerts to make this process easier.
  5. Visit AnnualCreditReport.com to get your credit report from the three credit reporting bureaus to see if there are any newly established, fraudulent accounts set up. DON’T JUST CHECK EQUIFAX, AS THE CRIMINALS HAVE ENOUGH OF YOUR DATA TO ABUSE YOUR CREDIT THROUGH ALL THREE BUREAUS.
  6. MOST IMPORTANTLY, FREEZE YOUR CREDIT. The video above walks you through why this is such an important step. Some websites and cybersecurity experts will tell you to simply place a fraud alert on your three credit profiles. I am telling you that this isn’t strong enough to protect your credit. Freezing your credit puts a password on your credit profile, so that criminals can’t apply for credit in your name (unless they steal your password too). Here are the credit freeze websites and phone numbers for each bureau. Equifax is being overwhelmed by requests, so be patient and keep trying. Even if it doesn’t happen today, you need to Freeze Your Credit!

Equifax Credit Freeze
P.O. Box 105788 Atlanta, Georgia 30348
Toll-Free: 1.800.685.1111

TransUnion Credit Freeze
Fraud Victim Assistance Department P.O. Box 6790 Fullerton, CA 92834
Toll-Free: 1.888.909.8872

Experian Credit Freeze
P.O. Box 9554 Allen, TX 75013
Toll-Free: 1.888.397.3742

John Sileo is an an award-winning author and keynote speaker on cybersecurity. John specializes in making security entertaining, so that it works. John is CEO of The Sileo Group, whose clients include the Pentagon, Visa, Homeland Security & Pfizer. John’s body of work includes appearances on 60 Minutes, Rachael Ray, Anderson Cooper & Fox Business. Contact him directly on 800.258.8076.

Use a Credit Freeze to Stop Financial Identity Theft and Secure Your Wealth


Freezing your credit is the number one way to protect against financial identity theft. If everyone in the country applied for a Credit Freeze, identity thieves would quickly be out of business. At least, a major part of their business. Take 30 minutes and lower your chances of identity theft drastically (see the online Freeze links at the bottom of this post).

To go directly to placing a security freeze on your 3 bureau accounts, page down to the bottom section.

Every time you establish new credit (e.g., open up a new credit card, store account or bank account, finance a car or home loan, etc.), an entry is created in your credit file which is maintained by companies like Experian, Equifax and TransUnion (listed below). The trouble is, with your name, address and social security number, an identity thief can pretend to be you and can establish credit (i.e., spend your net worth) in your name.

A credit freeze is simply an agreement you make with the three main credit reporting bureaus (Experian, Equifax and TransUnion – listed below) that they won’t allow new accounts (credit card, banking, brokerage, loans, rental agreements, etc.) to be attached to your name/social security number unless you contact the credit bureau, give them a password and allow them to unfreeze or thaw your account for a short period of time. Yes, freezing your credit takes a bit of time (maybe an hour of work), can be a little inconvenient when you want to set up a new account (that said, let’s face it, businesses want to make it as easy as possible to unfreeze your credit because they benefit when you set up new accounts and spend more money) and it can cost a few dollars (generally about $10 to unfreeze, a small price compared to the recovery costs of identity theft). And it is worth it! It’s like putting locks on your doors.

Since all states don’t allow you, by law, to freeze your credit, the three credit reporting bureaus have begun to offer credit freezes on a national basis. This is a major step forward in the prevention of identity theft, even if they are offering it for profit reasons (they make money every time you freeze/unfreeze your credit). If your state does not currently offer credit freezes by law, you can now apply with each credit reporting bureau individually. Regardless of where you live, freeze your credit today.A credit freeze doesn’t affect your existing credit – it doesn’t freeze credit cards, bank accounts or loans you already have. It only freezes access to your account unless someone has a password to get in. It’s like having a PIN number on your ATM card. It also doesn’t lower (or raise) your credit score.

Equifax Credit Freeze
P.O. Box 105788 Atlanta, Georgia 30348credit-freeze
Toll-Free: 1.800.685.1111

TransUnion Credit Freeze
Fraud Victim Assistance Department P.O. Box 6790 Fullerton, CA 92834
Toll-Free: 1.888.909.8872

Experian Credit Freeze
P.O. Box 9554 Allen, TX 75013
Toll-Free: 1.888.397.3742

John Sileo is an award-winning author and international speaker on the dark art of deception (identity theft, data privacy, social media manipulation) and its polar opposite, the powerful use of trust, to achieve success. He is CEO of The Sileo Group, which advises teams on how to multiply performance by building a culture of deep trust. His clients include the Department of Defense, Pfizer, the FDIC, and Homeland Security. Sample his Keynote Presentation (he shares how he lost $300,000, 2 years and his business to data breach) or watch him on Anderson Cooper, 60 Minutes or Fox Business. 1.800.258.8076.