Equifax Data Breach – Update

Last Thursday, Equifax reported a serious Cybersecurity Incident. At this time, it appears there were just over 200,000 credit cards among the 143 million records potentially compromised. Equifax has indicated that debit cards were not exposed – therefore criminals are unlikely to have the capability to withdraw funds from a checking account.

When the breach was announced there was a lot of confusion about the data security standards to which Equifax was subject. Equifax is not a bank, but it is subject to Gramm-Leach-Bliley Act data security requirements and the Federal Trade Commission has enforcement authority over Equifax.

Affected members are at risk from criminals using stolen information to fraudulently open accounts. This means that the most pressing and immediate threat with this breach is identity theft. Fortunately, there are several simple steps you can take to protect yourself.

  • Visit the Equifax website. Equifax has a tool that can help determine whether your data has been exposed.
  • Do not respond to email, text or telephone calls asking for personal or financial information
  • Review account activity carefully and frequently, and immediately report unauthorized transactions
  • Place an initial fraud alert with credit bureaus if fraud has occurred
  • Enroll and opt-in to transaction monitoring
  • Use card on/off switches (if available)
  • Enroll in Verified by VISA / MasterCard Secure Code

You can visit www.EquifaxSecurity2017.com or call 1-866-447-7559 on any day (including weekends) from 7:00 a.m. – 1:00 a.m. Eastern time with your questions.

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