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Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our banking reporters and editors focus on the points consumers care about most — the best banks, latest rates, different types of accounts, money-saving tips and more — so you can feel confident as you’re managing your money. Bankrate logo Editorial integrity
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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. A data breach exposed the personal information of 143 million U.S. consumers, including names, Social Security numbers, birth dates and addresses, the credit bureau Equifax disclosed Thursday. This data breach almost certainly will rank among the largest in U.S. history, leaving tens of millions of Americans at risk for identity theft. Here are five things you should do now to protect yourself. Check your exposure
Equifax has where you can check to see if your personal information was potentially impacted. Users are prompted to enter their last name and the last six digits of their Social Security number. Equifax says providing that information is enough for the company to alert you whether your personal data may have been exposed. Regardless, Equifax says it will offer free credit monitoring to all U.S. consumers for one year through its TrustedID Premier service. TrustedID includes credit monitoring at all three major credit bureaus, copies of Equifax credit reports, the ability to lock and unlock Equifax credit reports, identity theft insurance and internet scanning for Social Security numbers. Consider a credit freeze
What Equifax is offering may not go far enough to protect you from identity theft. The best way to protect yourself is to , also called a security freeze, on your credit reports at all three major reporting agencies: Equifax, TransUnion, and Experian. A credit freeze blocks consumers’ credit reports from being shared with potential new creditors. Without a credit report, most lenders won’t open a new line of credit. Enacting a credit freeze is a more proactive approach to securing your information than using credit monitoring services, which simply detect fraud but don’t necessarily prevent it. “Everyone should assume their information has been compromised,” says Robert Siciliano, CEO of . “With so many breaches in the past, you can’t be sure your personal data is safe. The best action you can take is a credit freeze.” Consumers can temporarily remove the freeze when they want to buy a house or take out an and then enable it again once they have been approved. Additional measures
Along with preventing future theft, it’s important to make sure your information hasn’t already been used to hack into existing accounts or to create new ones. You should: Scrutinize all credit card and bank statements. Take note of small, but suspicious, charges. Thieves may charge small amounts to see if account holders notice and, if not, will continue using the card. Check your credit report from all three credit bureaus. This will help you determine if unauthorized accounts have been opened in your name. Some retailers and companies, such as cell phone carriers, might not require a credit report to open a new account, thus bypassing the protection of the credit freeze. This is where your credit report comes in handy. Bankrate offers a you can access at any time. Refrain from giving out personal information over the phone or through email. In the wake of an event like this, criminals might take advantage of people’s fear and vulnerability. Also, be wary of clicking on links within emails. How it happened
Hackers exploited a “U.S. website application vulnerability” to gain access to personal information between mid-May and July, the credit bureau said. After discovering the breach in late July, Equifax commissioned an independent cybersecurity firm to stop the attack, determine the specific data that was stolen and provide direction to prevent future attacks. The breach also exposed the numbers of 209,000 consumers and personal information from credit dispute documents of approximately 182,000 people. The company’s consumer credit reporting databases were not impacted. Equifax says it will notify consumers through the mail whose credit card numbers or dispute documents were exposed. Consumers who only had their personal data exposed will not be notified. “This is clearly a disappointing event for our company, and one that strikes at the heart of who we are and what we do,” Chairman and CEO Richard F. Smith said in a statement. “I apologize to consumers and our business customers for the concern and frustration this causes.” SHARE: Natalie Campisi is a former mortgage reporter at Bankrate. Related Articles