There’s been a mega data breach boom lately and billions of Social Security numbers have been exposed. The National Public Data breach alone let loose 2.9 billion of our most sensitive records into the hands of cybercriminals. Fortunately, there are protective steps we can take to minimize the potential financial damage.
FREEZE CREDIT REPORTS
In short, information needed to open credit cards, a mortgage, buy a car, and otherwise make purchases in your name are up for grabs. Freezing your credit prevents that from happening and it’s absolutely free to do.
Contact each of the big three credit bureaus, Equifax, TransUnion, and Experian to enact a credit freeze. This means your credit reports are available only to you. If you need to access your credit, you can temporarily lift the freeze and reinstate it when you’re done…again, for free. Make note of the PIN you receive to undo the credit freeze and keep it safely stored.
CHECK CREDIT REPORTS
It’s the details that count with credit reports and even the smallest activity isn’t too insignificant to review. Credit reports can be viewed online often or choose mailed copies or copies via smartphone once a year. Immediately report any discrepancies, especially for activity you didn’t authorize. Many financial institutions also give you the ability to check your reports. Just watch for any associated fees.
FREEZE BANK REPORTS
This option might not be as well-known, but it’s worthwhile to consider. Should a criminal access your bank account and run it into the dirt, banks might not consider you a future good credit risk. To prevent this, contact ChexSystems to place a security freeze, and that means only you can see your banking report. You’ll need your designated PIN to temporarily lift the freeze when needed.
IRS IDENTITY PIN
The Internal Revenue Service has a way to prevent devastating tax identity fraud. They offer an identity protection PIN (IP PIN) to those concerned about tax identity fraud in their name. To confirm your identity, you’ll get a six-digit IP PIN necessary when filing taxes. If you’ve been a victim of tax identity fraud, you’ll automatically receive a new IP PIN each year. Otherwise, you’ll need to request a new IP PIN annually to file your taxes.
Security professionals agree it’s best to assume our SSNs and other sensitive data are already in the hands of cybercriminals. So, fight the good fight using your financial security options and send hackers packing.
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