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Equifax Breach: Steps to Take Now

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Equifax Breach: Steps to Take Now

Written by admin on . Posted in Client Services, Financial Planning.

Last week, one of the big four credit reporting agencies, Equifax, announced it experienced a security breach resulting in criminals accessing personal information of approximately 143 million Americans between May and July of this year. The compromised information included names, addresses, Social Security numbers, and dates of birth. In some instances, driver’s license numbers, credit card and credit dispute information were also compromised. This information is nearly everything that is needed to open an account in your name.
While my office does not have a direct relationship with Equifax, due to the sheer size of the breach, I felt it important to reach out and let you know what you can do to protect yourself.

  • Consider obtaining credit monitoring services. Equifax is offering free credit monitoring to all Americans, whether impacted by the breach or not. Several companies also offer similar services for a fee. Please note that credit monitoring does not prevent ID theft; it simply alerts you when events occur that may impact your credit.
  • If you believe your information has been compromised, contact our office to discuss options to further protect your investment accounts. If you wish, we can place restrictions on your account(s) that will prevent anyone from being able to effect transactions or withdrawals without our office’s awareness and approval.
  • Be on high alert for impersonators or phishing attempts by fraudsters. Be on the lookout for emails that appear to be from these companies, telling you that you’ve been impacted, or otherwise creating a sense of urgency, and to “click here” for more information. When in doubt, do not click the link. Any legitimate company will have another way for you to contact them to be sure the email is safe.

As always, thank you for your business and trust. If you have any additional concerns, don’t hesitate to reach out directly.
Sincerely,
Barnes Capital Group
LPL Financial is not affiliated with any of the credit reporting agencies listed. Securities offered through LPL Financial, member FINRA/SIPC. Investment advice offered through Independent Financial Partners (IFP), a Registered Investment Advisor. Barnes Capital Group and IFP are separate entities from LPL Financial.

Credit Monitoring, Credit Report, Equifax, Identity Theft

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