Tag Archives: CLC

Was Your Data Taken in Experian Breach?

A breach to one of Experian‘s servers – discovered on Sept. 15 – has resulted in 15 million compromised records with personal information like names and Social Security numbers. The breach included information about T-Mobile customers from as far back as 2013. Here are the details and action steps you can take if you think you’re a victim.

The server that was attacked housed records of those who applied for T-Mobile’s services between Sept. 1, 2013, and Sept. 16, 2015. Overall, the compromised information included…

  • Names
  • Addresses
  • Dates of birth
  • Driver’s license numbers
  • Social Security numbers
  • Passport IDs

The affected server was not part of Experian’s consumer credit bureau; nevertheless, a data breach is good reason to check your defenses when it comes protecting your personal information, and there are plenty of ways you can protect yourself.

Make sure hackers didn’t steal your information and use it for their advantage. Annually check your credit reports and bank statements for suspicious activity, like a new line of credit or purchases you didn’t make.

Be cautious! When a breach like this occurs, fraudsters may call the victims and say they’re from the affected companies. They may ask you for your personal information, so they can “help” you. Keep in mind that T-Mobile and Experian made it clear that they will not send a message or call and ask for personal information connected with the incident.

Consider some of the major data breaches we’ve had in the past couple years:

  • JP Morgan Chase – 76 million customer records
  • Anthem – 87.6 million
  • Home Depot – 56 million
  • Target – 110 million

Whether or not you think you’re a victim, employing an identity theft protection plan is relevant and important.

Ironically, T-Mobile is offering resolution services through Experian’s ProtectMyID, for those who were affected by the data breach; however, full, continuing coverage demands an identity protection service that has more robust features than those provided through the complimentary membership.

ProtectMyID’s complimentary membership includes SSN and credit-card monitoring, but you also need monitoring for high-risk transactions and data sweeps. ProtectMyID includes credit monitoring and an Experian credit report upon entry, but you also need your credit score and identity risk score (showing how vulnerable you are to identity theft). ProtectMyID has lost wallet/purse assistance and alerts for suspicious activity, which is good. It is backed by $1 million identity theft insurance coverage, too, but you also need coverage that will reimburse you for the expenses you incur while returning your life to normal. ProtectMyID has fraud resolution agents who can offer assistance to victims, but you also need a financial consultation, a legal consultation and more.

You need stronger layers of protection against identity theft, help creating an action plan and professional assistance with addressing compromised information and accounts.

The Experian data breach is a big reminder of how a robust identity theft protection plan is absolutely necessary.

Why Credit Monitoring Isn’t Enough

Having credit monitoring instead of identity monitoring is like putting a security system in the elevator but not in the whole office building. The scope of security is limited and leaves the workforce vulnerable. Thus, understanding how monitoring programs differ, how they work and why it matters is critical for safeguarding your identity.

Why should you care?

Victims of identity theft deal with increased stress, hours of work rebuilding their reputation and recovering from major financial losses; all of which have major consequences in other areas of life – like decreased productivity and performance on the job.

Given the statistics, if you haven’t dealt with the crime in some capacity, it’s only a matter of time.

The good news is that arming yourself with credit monitoring and identity monitoring gives you a better chance of stopping identity theft before it gets out of hand, thereby diminishing the negative effects that follow.

What is credit monitoring? How does it work?

There’s a broad range of credit monitoring services available in today’s market, and each program varies. Credit monitoring is a reactive approach to identity theft that involves checking credit reports for fraudulent activity. Because a credit report shows past activity, it will only reveal fraud or theft that has already affected the victim. That’s why it’s like only having security in the elevator: Once you realize the culprit is there, he has already infiltrated the building.

Credit monitoring programs will pull a member’s report, often quarterly or annually, from any number of the three major credit bureaus and make it visible to the member. On top of that, programs watch credit reports, transactions and activity for changes that could be criminal.

Another aspect of credit monitoring is resolution and recovery assistance, but, again, the levels of assistance vary from product to product. For instance, credit monitoring services will alert a member if they find fraudulent activity on the credit report(s), but some services don’t inform the credit bureaus on behalf of the member.

What is identity monitoring? How does it work?

Identity monitoring takes a more active approach. It not only focuses on credit reports but broadens the security sweep to account for name, birth date, address, email, driver’s license, Social Security number and more. Think of it as a security system for the whole office building, with security officers at every door and window.

Top-notch identity monitoring programs will check national databases for suspicious activity, watch out for questionable transactions and ultimately try to keep the member informed with real-time alerts about a data breach or fraudulent act. Touch points could even include scanning criminal record databases, sex offender registries and public records.

Identity monitoring can also give people peace of mind about their biggest worries: More than 70% of consumers are concerned about their Social Security number, credit card, insurance and driver’s license number, while less than 60% are concerned about their credit score and transaction history. People want more protection than what’s offered by credit monitoring alone, and identity monitoring is the answer.

What is the difference?

One major difference between identity monitoring and credit monitoring is accuracy. The all-inclusive nature of identity monitoring allows for a more accurate assessment of susceptibility to identity theft. For example, credit monitoring may not detect problems like tax fraud or medical identity theft because credit reports don’t necessarily show those types of information. Because identity monitoring is more robust, it can discover anomalies and provide protection for more than the financial aspects covered by credit monitoring.

Simply put, identity monitoring provides more coverage than credit monitoring.

For more information, visit clcidprotect.com.