Bay Realty Blog: The Equifax Security Breach: Assume the Worst

The Equifax Security Breach: Assume the Worst

Here is some good advice from Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi  regarding the huge hack discovered which reaches 1 out of every 2 Americans. Not Good! Be proactive! Read this and take ation!

The Equifax Security Breach: 
Assume the Worst


Typically, making assumptions is not good.  In the case of the Equifax security breach discovered on July 29, 2017?  Just the opposite is true. 

Yep, you read that right ...

 

ASSUME the worst and proactively take measures to protect yourself, your finances, and your credit history/credit scores.  Don't wait for confirmation yea or nay.  

 

With this recent breach of security at Equifax being so large (an estimated 143 million people are affected), chances are good that you will be receiving notification soon, as that number represents a whopping 50+% of the population.

 



The information/data stolen during this breach include:

  • Birth Dates
  • Social Security Numbers
  • Addresses
  • Driver's Licenses (on a small number of consumers)
  • Personal Identification Info (on approximately 182,000 consumers pursuing credit report disputes)
  • Credit Card Numbers (on approximately 209,000 people)


Note:  Equifax will be direct mailing an alert to only those consumers that:

  • Had their credit card numbers stolen
  • Were involved in credit disputes at the time of the breach

So again, act proactively in protecting yourself.  Do not wait for confirmation in any form from Equifax.

 
Presently, Equifax is suggesting that you visit their website to see if you've been affected by this breach ... and to sign-up for their credit monitoring service.  But as of this writing, the advantages of signing-up are unclear or small, at best.
 
The Equifax credit monitoring service does not become available until next week on Monday (9/11).  And there is conflicting advice as to the use of this service.  So make sure you thoroughly educate yourself to the pros and cons of the Equifax credit monitoring service ... or any other service (or action) you might take regarding this matter.  
 
Fraud Alerts and "Freezing" your credit are two such options.  (Definition of Credit Monitoring) Do your homework regarding each prior to taking action of any kind. 
 
What can you do on your own immediately to protect yourself?
 
  • Pull your Credit at:  www.AnnualCreditReport.com.  Make this routine!
  • Review/monitor your Credit Card Account Statements often and consistently
  • Review/monitor your Bank Account Statements often and consistently
  • You can also request your FREE copy of your Credit Report from each of the 3 main Credit Bureaus:  TransUnion, Experian, Equifax.  Continue to do this on a routine/timely basis.
  • When filing Taxes:    File early before any scammer in possession of your Social Security Number does it
  • Respond immediately to letters/communications received from the IRS
  • Respond immediately to letters'communications received from banks, credit card companies, etc. 
 
I can't stress the importance of taking these actions strongly enough.  Act proactively to protect yourself regarding any personal information or data of yours that may have been stolen in this breach.
 
Make it part of your routine to monitor all your accounts on a timely, consistent basis.  Pull your free credit report as they become available to you.  Seek ... ask questions.
 
If you think you have suffered fraud:  Take action quickly.  Report it.  Don't assume anyone besides yourself will take responsibility for, address, or correct the issues that arise from this breach.  
 
The more quickly you act, the more quickly the problem is remedied ... 
 
*  Hoping to Buy or Refinance a home in the Chicagoland Area?  Contact Me!  I'll put my 40 years of mortgage experience and expertise hard to work on your behalf. 
I'm easily found at:
 
Gene Mundt
Mortgage Originator - NMLS #216987 - IL Lic. #031.0006220 - WI License 216987
 
American Portfolio Mortgage Corp.
NMLS #175656
 
 
Direct: 815.524.2280
Cell or Text: 708.921.6331
eFax: 815.524.2281
 
 

  

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Gene Mundt

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Comment balloon 14 commentsDebra Leisek • September 09 2017 03:41AM

Comments

Reminds me of that song long ago Debra Leisek "And the beat goes on!"  My son lives and works in Anchorage and my wife was visiting Homer with some of her family earlier this week!

Posted by Bruce Hicks, Your Lifetime Friend/Helper! (Best Homes Hawaii) about 1 year ago

I have some clients who just called me and said they are here! Mandy & Greg she isn't your wife but she might be family?

 

Posted by Debra Leisek ( Bay Realty,Inc Homer Alaska) about 1 year ago

I like that song.... because the beat does go on!!!

Posted by Debra Leisek ( Bay Realty,Inc Homer Alaska) about 1 year ago

We've got a freeze on all all three of the credit reporting agencies. It's free and it only takes a few minutes to unfreeze when you want to apply for credit.

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) about 1 year ago

That seems prudent Debe Maxwell, CRS We need to be proactive

If they have had this information since July isnt it a little too late to protect ourselves? And why would we trust the people who got hacked and didnt tell us for 2 -3 months that we had been violated? 

I am not sure we can do anything to really protect ourselves at this point

Posted by Debra Leisek ( Bay Realty,Inc Homer Alaska) about 1 year ago

Great questions, Debra Leisek - I would think if you had everything frozen, it couldn't be touched unless the freeze is ever removed. I don't know!

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) about 1 year ago

I dont know either... but I do know one thing.... I dont trust any of it!! And I bet if they are saying it was July they probably knew before then. This is a huge mess.

Posted by Debra Leisek ( Bay Realty,Inc Homer Alaska) about 1 year ago

Great reblog and I must take on the advice time to freeze all of our accounts, Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) about 1 year ago

p.s.: just on a side note seems to me they should do it automatically without us having to reach out to them, but what do I know, Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) about 1 year ago

I agree Endre Barath, Jr.  if they allowed 1 out of 2 Americans credit to be breeched they should be fixing that. If  I harmed a client I would have to make it right why dont they?

Posted by Debra Leisek ( Bay Realty,Inc Homer Alaska) about 1 year ago

Thank you for re-sharing this info, Debra Leisek ... and I find it amazing that Equifax is reaching out to only those with a small subset of issues too.  Really??

The bottomline is ... we each individually must protect ourselves as best we can and not rely on these bigger entities.  We must pay attention ... consistently ... on our own behalf.

Gene

Posted by Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi, 708.921.6331 - 40+ yrs experience (NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656) about 1 year ago

I just saw an article that the top 3 guys at Equifax sold off 1.8 million of their own stock Who knows when they actually found out about the hack?

I agree we must protect ourselves. Do you think freezing your credit is the best thing to do right now Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi 

Posted by Debra Leisek ( Bay Realty,Inc Homer Alaska) about 1 year ago

Another great post Debra and the reason for my extra presence is ...

500

Posted by Robert Vegas Bob Swetz, Las Vegas Henderson Homes for Sale (Realty ONE Group) about 1 year ago

So what does the 500 mean? I am sure it is something interesting!  thank you Robert Vegas Bob Swetz 

Posted by Debra Leisek ( Bay Realty,Inc Homer Alaska) about 1 year ago

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