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Top 10 Ways To Protect Yourself In The Wake of the Equifax Security Breach
Whether or not you are among the millions of people affected by the recent Equifax data breach, there are several steps you can take to respond when your personal information is exposed in a data breach. We have outlined several identity theft tips for you and will continue to work to provide answers—or point people to other resources that may help make the situation clearer.
Free Credit Monitoring
Equifax is offering a free credit monitoring service to anyone—not only those who are affected by this breach. Since this is a free service, you should consider signing up for this service, if it makes sense for you, by visiting equifaxsecurity2017.com .
Any time you are offered free credit monitoring, make sure you check for:
• Trial periods
• Cancellation requirements
• Other restrictions, such as automatic renewals
• Whether you are being asked to give your credit card, debit card, or bank account information
If you are not asked to give your credit card, debit card, or bank account information, then it will help avoid automatic renewals and being charged for something that you expected to be free. This will also help to ensure that you do not face unexpected fees, charges, or other limitations.
Credit monitoring and arbitration
Top 10 ways to protect your personal information from being misused
1. Review your credit report. You are entitled to a free credit report every 12 months from each of the three major consumer reporting companies (Equifax, Experian and TransUnion). You can request a copy from AnnualCreditReport.com .
2. Consider a security freeze. A security freeze or credit freeze on your credit report restricts access to your credit file. Creditors typically will not offer you credit if they cannot access your credit reporting file, so a freeze prevents you and others from opening new accounts in your name. In almost all states, a freeze lasts until you remove it. In some states, it expires after seven years.
3. Set up a fraud alert. Fraud alerts require that a financial institution verifies your identity before opening a new account, issuing an additional card, or increasing the credit limit on an existing account. A fraud alert will not prevent lenders from opening new accounts in your name, but it will require that the lenders take additional identification verification steps to make sure that you are making the request. An initial fraud alert only lasts for 90 days, so you may want to watch for when to renew it. You can also set up an extended alert for identity theft victims, which is good for seven years.
4. Read your credit card and bank statements carefully. Look closely for charges you did not make. Even a small charge can be a danger sign. Thieves sometimes will take a small amount from your checking account and then return to take much more if the small debit goes unnoticed.
5. Don’t ignore bills from people you don’t know. A bill on an account you do not recognize may be an indication that someone else has opened an account in your name. Contact the creditor to find out.
6. Shred any documents with personal or sensitive information. Be sure to keep hard copies of financial information in a safe place and be sure to shred them before getting rid of them.
7. Change your passwords for all of your financial accounts and consider changing the passwords for your other accounts, as well. Be sure to create strong passwords and do not use the same password for all accounts. Do not use information such as addresses and birthdays in your passwords. For more tips on how to create strong passwords read more on the Federal Trade Commission’s (FTC) blog .
8. File your taxes as soon as you can. A scammer can use your Social Security number to get a tax refund. You can try to prevent a scammer from using your tax information to file and steal your tax refund by making sure you file before they do. Be sure not to ignore any official letters from the IRS and reply as soon as possible. The IRS will contact you by mail; do not provide any information or account numbers in response to calls or emails.
9. Active duty service members are eligible for additional protections, and should also monitor their credit carefully. Learn more about what you can do if you’re currently serving at home or abroad.
10. If you are the parent or guardian of a minor and you think your child’s information has been compromised, here are some steps from the FTC you can take to protect their information from fraudulent use. If you think you or your child’s identity has already been stolen you can follow checklists and additional steps provided by the FTC to begin recovering from a case of identity theft.
Source: CFPB Blog
Identity Theft Prevention Information
International Card Transactions
Due to the increased incidence in international card fraud, we have blocked the approval of all international card transactions. If you will be using your DEBIT or CREDIT CARD internationally, please contact the card services department at the credit union BEFORE YOU LEAVE.
FREE Annual Credit Report
Each major credit bureau is required to provide one free credit report annually to a consumer requesting a copy. Go to annualcreditreport.com to request your copy or call the credit bureaus directly. Their numbers are:
1.888.397.3742 – Experian
1.800.685.1111 – Equifax
1.800.888.4213 – Trans Union