The Equifax Security Breach…

What you should know to help protect your good name

In the aftermath of 2 major storms, many likely have not had the chance to consider the implications of the major credit bureau Equifax being hacked*** with more than 140 Million customer accounts potentially, likely or definitely compromised.

The Experian HackUnauthorized access to your social security number, drivers license number, address, credit card and bank accounts, payment history, etc. represents a potentially significant personal and financial security breach that theoretically the consequences of the breach could follow you for the rest of your life.

Many security experts are recommending locking access to your credit history as the only sure and safe way to “help prevent” criminals from using your sensitive information to steal your identity and open accounts in your name.

Nationally known personal finance and consumer protection advocate, Clark Howard at clark.com has posted very important information on how to protect yourself including checking to see if you’ve likely been affected; how to lock your credit file with the three major credit reporting bureaus…Equifax, Experian and Transunion; and how to preserve your rights to possible damages in the event of losses as a result of the breach.

Be careful when locking your report at Equifax, as you may be directed next to a free credit monitoring offer. Be advised financial security experts are warning that signing up for Equifax’s one-year free credit report monitoring is neither sufficient in protecting you in the long term as thieves can simply wait 1 day or more after one-year to attack and by signing up for Equifax’s free monitoring, you may be opting for binding arbitration over any class-action litigation for any losses you sustain as a result of the Equifax breach and may be harming your right to be properly compensated for losses that may be approved by a court of law later.

***The preceding information is intended for general information purposes only and is not designed to provide specific and personal, financial, legal, counseling, or other professional advice. You are encouraged to seek professional advice for your specific personal circumstance. No liability, explicit or implied, shall be borne by the CWSC, Inc. or its Board of Directors. CWSC, Inc. is not affiliated with Clark Howard, clark.com, or with any credit bureau